Sight Sciences (NASDAQ:SGHT) Research Coverage Started at HC Wainwright

HC Wainwright assumed coverage on shares of Sight Sciences (NASDAQ:SGHT – Free Report) in a research note released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $14.00 price target on the stock.

Several other equities research analysts have also issued reports on SGHT. Citigroup lifted their price target on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group raised their price objective on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sight Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

View Our Latest Analysis on SGHT

Sight Sciences Trading Down 5.9%

NASDAQ SGHT opened at $8.28 on Thursday. Sight Sciences has a 52 week low of $3.38 and a 52 week high of $9.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. The stock’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $6.09. The stock has a market capitalization of $456.15 million, a price-to-earnings ratio of -14.79 and a beta of 2.45.

Sight Sciences (NASDAQ:SGHT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The company had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $21.72 million. As a group, analysts anticipate that Sight Sciences will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other Sight Sciences news, CTO David Badawi sold 7,797 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.05, for a total transaction of $70,562.85. Following the sale, the chief technology officer directly owned 1,975,075 shares of the company’s stock, valued at approximately $17,874,428.75. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul Badawi sold 29,653 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $268,359.65. Following the sale, the chief executive officer directly owned 6,092,819 shares in the company, valued at $55,140,011.95. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 47,646 shares of company stock valued at $429,157 over the last three months. Corporate insiders own 30.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Sight Sciences in the second quarter valued at approximately $16,710,000. GSA Capital Partners LLP acquired a new position in shares of Sight Sciences during the 2nd quarter worth approximately $908,000. Bank of New York Mellon Corp acquired a new position in shares of Sight Sciences during the 2nd quarter worth approximately $495,000. Bank of America Corp DE acquired a new position in shares of Sight Sciences during the 2nd quarter worth approximately $520,000. Finally, SCS Capital Management LLC bought a new stake in Sight Sciences in the 2nd quarter valued at $488,000. Institutional investors own 55.51% of the company’s stock.

About Sight Sciences

(Get Free Report)

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.

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Analyst Recommendations for Sight Sciences (NASDAQ:SGHT)

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