Sight Sciences, Inc. (NASDAQ:SGHT) Receives $4.70 Consensus Target Price from Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.70.

Several analysts have recently issued reports on the company. Piper Sandler reissued a “neutral” rating and set a $6.00 target price (up from $5.00) on shares of Sight Sciences in a report on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Friday, May 3rd.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT opened at $5.65 on Friday. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $10.97. The stock has a 50 day moving average of $5.14 and a 200-day moving average of $4.21. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $279.96 million, a P/E ratio of -5.04 and a beta of 2.73.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.13. Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 42.84%. The firm had revenue of $18.75 million for the quarter, compared to analysts’ expectations of $18.70 million. During the same period in the prior year, the firm earned ($0.35) EPS. As a group, equities research analysts predict that Sight Sciences will post -1.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Alison Bauerlein sold 10,123 shares of Sight Sciences stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the sale, the chief financial officer now directly owns 426,248 shares in the company, valued at $2,165,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sight Sciences news, CFO Alison Bauerlein sold 10,123 shares of Sight Sciences stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $51,424.84. Following the sale, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 12,571 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $63,860.68. Following the transaction, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at $29,213,703.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,129 shares of company stock valued at $173,375. Corporate insiders own 27.10% of the company’s stock.

Institutional Trading of Sight Sciences

A number of institutional investors have recently modified their holdings of SGHT. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sight Sciences by 51.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after acquiring an additional 9,106 shares during the period. RTW Investments LP purchased a new position in shares of Sight Sciences during the 4th quarter valued at $850,000. Tower Research Capital LLC TRC increased its holdings in shares of Sight Sciences by 180.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after purchasing an additional 7,764 shares during the period. UBS Group AG raised its position in shares of Sight Sciences by 20,282.6% in the fourth quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after buying an additional 2,881,750 shares in the last quarter. Finally, Jackson Square Partners LLC boosted its stake in Sight Sciences by 12.0% during the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after buying an additional 174,737 shares during the period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

About Sight Sciences

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. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.