Sight Sciences (NASDAQ:SGHT) PT Raised to $6.50

Sight Sciences (NASDAQ:SGHT) had its price objective boosted by equities researchers at Citigroup from $6.00 to $6.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential downside of 13.56% from the stock’s previous close.

A number of other brokerages also recently issued reports on SGHT. Piper Sandler restated a “neutral” rating and set a $6.00 price objective (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.20.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $7.52 on Wednesday. The stock has a 50 day moving average of $6.19 and a 200 day moving average of $5.38. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $9.31. The firm has a market cap of $374.20 million, a PE ratio of -6.71 and a beta of 2.74. The company has a current ratio of 13.01, a quick ratio of 12.42 and a debt-to-equity ratio of 0.31.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 44.45%. The firm had revenue of $19.27 million for the quarter, compared to the consensus estimate of $18.34 million. On average, research analysts expect that Sight Sciences will post -1.13 EPS for the current fiscal year.

Insider Transactions at Sight Sciences

In other news, CFO Alison Bauerlein sold 13,066 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $5.42, for a total value of $70,817.72. Following the sale, the chief financial officer now directly owns 413,182 shares in the company, valued at $2,239,446.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Alison Bauerlein sold 13,066 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $5.42, for a total value of $70,817.72. Following the sale, the chief financial officer now directly owns 413,182 shares in the company, valued at $2,239,446.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeremy B. Hayden sold 5,055 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $6.21, for a total value of $31,391.55. Following the completion of the sale, the insider now owns 163,565 shares in the company, valued at $1,015,738.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,840 shares of company stock worth $290,061. 28.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after purchasing an additional 2,881,750 shares during the period. Jackson Square Partners LLC increased its holdings in Sight Sciences by 12.0% during the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after purchasing an additional 174,737 shares during the period. Vanguard Group Inc. increased its holdings in Sight Sciences by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after purchasing an additional 81,768 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Sight Sciences by 25.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock worth $1,991,000 after purchasing an additional 76,549 shares during the period. Finally, RTW Investments LP purchased a new position in Sight Sciences during the 4th quarter worth $850,000. 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.