Shares of Sight Sciences, Inc. (NASDAQ:SGHT – Get Free Report) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.
Several analysts recently weighed in on SGHT shares. Wall Street Zen upgraded Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup boosted their price objective on shares of Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. HC Wainwright initiated coverage on Sight Sciences in a report on Thursday. They set a “buy” rating and a $14.00 target price for the company. Finally, UBS Group lifted their price target on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th.
Check Out Our Latest Analysis on Sight Sciences
Sight Sciences Stock Performance
Shares of SGHT opened at $8.28 on Monday. Sight Sciences has a 1-year low of $3.38 and a 1-year high of $9.71. The company has a 50-day moving average of $8.43 and a 200 day moving average of $6.10. The firm has a market capitalization of $456.13 million, a price-to-earnings ratio of -14.79 and a beta of 2.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67.
Sight Sciences (NASDAQ:SGHT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $23.39 million for the quarter, compared to analyst estimates of $21.72 million. On average, research analysts expect that Sight Sciences will post -0.48 EPS for the current year.
Insider Activity
In other Sight Sciences news, CFO James Rodberg sold 7,208 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total value of $63,790.80. Following the completion of the sale, the chief financial officer directly owned 216,829 shares in the company, valued at $1,918,936.65. This trade represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $268,359.65. Following the transaction, the chief executive officer directly owned 6,092,819 shares in the company, valued at approximately $55,140,011.95. The trade was a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 47,646 shares of company stock valued at $429,157. Corporate insiders own 30.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Sight Sciences in the second quarter valued at about $16,710,000. GSA Capital Partners LLP acquired a new stake in Sight Sciences in the 2nd quarter worth approximately $908,000. Bank of America Corp DE acquired a new stake in Sight Sciences in the 2nd quarter worth approximately $520,000. Bank of New York Mellon Corp purchased a new stake in Sight Sciences during the 2nd quarter worth approximately $495,000. Finally, SCS Capital Management LLC purchased a new stake in Sight Sciences during the 2nd quarter worth approximately $488,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.
Sight Sciences Company Profile
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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