Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given an average rating of “Hold” by the nine research firms that are presently covering the company, MarketBeat reports. One 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 12 month target price among brokerages that have covered the stock in the last year is $8.1438.

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

Insider Transactions at Sight Sciences

In other news, insider Jeremy B. Hayden sold 13,761 shares of the firm’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 $48,851.55. Following the transaction, the insider owned 369,770 shares in the company, valued at approximately $1,312,683.50. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul Badawi sold 29,244 shares of the firm’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 owned 6,151,156 shares in the company, valued at approximately $22,759,277.20. This represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,273 shares of company stock worth $221,764. Corporate insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently made changes to their positions in SGHT. AQR Capital Management LLC purchased a new position in shares of Sight Sciences during the first quarter valued at $128,000. Strs Ohio purchased a new position in shares of Sight Sciences during the first quarter valued at $158,000. Rhumbline Advisers boosted its position in Sight Sciences by 9.5% during the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after purchasing an additional 4,319 shares in the last quarter. Geode Capital Management LLC boosted its position in Sight Sciences by 5.5% during the second quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock valued at $3,494,000 after purchasing an additional 43,791 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Sight Sciences during the second quarter valued at about $67,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $4.63 on Tuesday. The stock’s fifty day moving average is $4.36 and its two-hundred day moving average is $5.71. The company has a market capitalization of $251.92 million, a PE ratio of -6.52 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. Sight Sciences has a 52 week low of $3.11 and a 52 week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The business had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.47 million. Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. As a group, analysts expect that Sight Sciences will post -0.6 earnings per share 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.