Insider Buying: Sight Sciences, Inc. (NASDAQ:SGHT) Director Acquires 126,664 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) Director Staffan Encrantz purchased 126,664 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were acquired at an average price of $2.19 per share, for a total transaction of $277,394.16. Following the purchase, the director now directly owns 157,499 shares of the company’s stock, valued at $344,922.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Staffan Encrantz also recently made the following trade(s):

• On Tuesday, November 14th, Staffan Encrantz purchased 3,462 shares of Sight Sciences stock. The shares were acquired at an average price of $2.00 per share, for a total transaction of $6,924.00.

Sight Sciences Price Performance

Shares of NASDAQ SGHT traded up $0.03 during midday trading on Monday, reaching $2.28. 201,842 shares of the company traded hands, compared to its average volume of 211,020. The firm has a market cap of $111.15 million, a PE ratio of -1.80 and a beta of 1.52. The stock’s 50-day simple moving average is $2.92 and its 200-day simple moving average is $6.28. Sight Sciences, Inc. has a 12 month low of $1.04 and a 12 month high of $15.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.47 and a current ratio of 12.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SGHT shares. Morgan Stanley decreased their price target on shares of Sight Sciences from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Bank of America downgraded shares of Sight Sciences from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $10.00 to $4.50 in a research note on Tuesday, September 12th. Citigroup decreased their price target on shares of Sight Sciences from $8.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, September 15th. Piper Sandler cut Sight Sciences from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $5.50 in a report on Monday, September 11th. Finally, William Blair cut Sight Sciences from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.40.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGHT. Mine & Arao Wealth Creation & Management LLC. acquired a new position in shares of Sight Sciences during the 1st quarter worth about $33,000. Lazard Asset Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth about $54,000. FMR LLC grew its position in shares of Sight Sciences by 484.6% during the 2nd quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $44,000 after buying an additional 4,032 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Sight Sciences during the 3rd quarter worth about $37,000. Finally, Barclays PLC grew its position in shares of Sight Sciences by 540.7% during the 4th quarter. Barclays PLC now owns 5,850 shares of the company’s stock worth $72,000 after buying an additional 4,937 shares during the period. 50.71% of the stock is owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.