Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $3.83

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.83.

Several research analysts recently commented on SGHT shares. Citigroup decreased their target price on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Piper Sandler dropped their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 6th. Lake Street Capital reduced their price target on Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Wednesday, April 9th.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 24,174 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $2.30, for a total value of $55,600.20. Following the sale, the chief executive officer now directly owns 6,010,580 shares of the company’s stock, valued at approximately $13,824,334. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Manohar K. Raheja purchased 10,000 shares of Sight Sciences stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at approximately $395,850. This represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 35,196 shares of company stock worth $81,001 over the last three months. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently bought and sold shares of the company. KCK LTD. bought a new stake in shares of Sight Sciences during the fourth quarter valued at approximately $15,925,000. Barclays PLC raised its stake in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after purchasing an additional 38,248 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock valued at $1,431,000 after buying an additional 340,906 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Sight Sciences by 10.7% in the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock worth $188,000 after buying an additional 4,964 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $2.86 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $8.45. The company has a fifty day moving average of $2.66 and a 200-day moving average of $3.28. The stock has a market capitalization of $147.85 million, a price-to-earnings ratio of -2.80 and a beta of 2.41.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The company had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same period last year, the firm posted ($0.22) EPS. Equities research analysts expect that Sight Sciences will post -0.99 EPS for the current year.

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. 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.