Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $8.31

Sight Sciences, Inc. (NASDAQ:SGHT) has received an average rating of “Hold” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.3125.

Several equities analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of Sight Sciences in a research report on Thursday, March 5th. Piper Sandler set a $9.00 price target on Sight Sciences in a research report on Monday, January 5th. Citigroup dropped their price objective on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Stifel Nicolaus boosted their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sight Sciences in a research report on Friday, April 10th.

Insider Buying and Selling at Sight Sciences

In related news, CFO James Rodberg sold 7,231 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $3.55, for a total value of $25,670.05. Following the sale, the chief financial officer directly owned 230,939 shares in the company, valued at $819,833.45. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeremy B. Hayden sold 13,761 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $48,851.55. Following the completion of the sale, the insider owned 369,770 shares in the company, valued at $1,312,683.50. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,273 shares of company stock valued at $221,764 over the last 90 days. 30.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after acquiring an additional 3,785 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Sight Sciences during the 1st quarter valued at about $51,000. R Squared Ltd acquired a new position in shares of Sight Sciences during the 3rd quarter valued at about $64,000. Finally, XTX Topco Ltd acquired a new position in shares of Sight Sciences during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $4.27 on Monday. The firm’s fifty day simple moving average is $4.25 and its 200-day simple moving average is $5.77. The stock has a market capitalization of $230.62 million, a price-to-earnings ratio of -5.69 and a beta of 2.50. Sight Sciences has a 12 month low of $2.74 and a 12 month high of $9.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.22 and a quick ratio of 9.52.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.35 million. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. As a group, equities analysts forecast that Sight Sciences will post -0.58 earnings per share for the current year.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.