Sight Sciences, Inc. (NASDAQ:SGHT) Receives $8.14 Average Target Price from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.1438.

Several equities research analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Sight Sciences in a report on Thursday, March 5th. Stifel Nicolaus upped their target price on Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, March 2nd. UBS Group dropped their price target on Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings lowered Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Citigroup upped their price target on Sight Sciences from $4.35 to $5.15 and gave the company a “neutral” rating in a research report on Thursday, May 28th.

Insiders Place Their Bets

In related news, CFO James Rodberg sold 7,231 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $25,670.05. Following the transaction, the chief financial officer directly owned 230,939 shares of the company’s stock, valued at approximately $819,833.45. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul Badawi sold 29,244 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $3.70, for a total value of $108,202.80. Following the transaction, the chief executive officer directly owned 6,151,156 shares in the company, valued at $22,759,277.20. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,273 shares of company stock valued at $221,764 over the last ninety days. Corporate insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Americana Partners LLC increased its position in Sight Sciences by 12.1% in the 4th quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after purchasing an additional 149,161 shares during the last quarter. Palumbo Wealth Management LLC acquired a new position in Sight Sciences in the 4th quarter worth about $294,000. Long Focus Capital Management LLC increased its position in Sight Sciences by 1.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after purchasing an additional 41,797 shares during the last quarter. R Squared Ltd acquired a new position in Sight Sciences in the 3rd quarter worth about $64,000. Finally, WealthTrust Asset Management LLC increased its position in Sight Sciences by 85.3% in the 3rd quarter. WealthTrust Asset Management LLC now owns 43,300 shares of the company’s stock worth $149,000 after purchasing an additional 19,929 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Trading Up 7.1%

Shares of NASDAQ SGHT opened at $5.13 on Tuesday. Sight Sciences has a 12 month low of $3.11 and a 12 month high of $9.24. The company has a market cap of $279.12 million, a price-to-earnings ratio of -7.23 and a beta of 2.41. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $4.45 and a 200-day simple moving average of $5.66.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The company had revenue of $19.70 million for the quarter, compared to analysts’ expectations of $18.47 million. Sell-side analysts predict that Sight Sciences will post -0.6 EPS for the current year.

About Sight Sciences

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.