Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $5.00 at Morgan Stanley

Sight Sciences (NASDAQ:SGHT) had its price objective decreased by Morgan Stanley from $7.00 to $5.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on SGHT. Piper Sandler reissued a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.50.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $3.86 on Monday. Sight Sciences has a 1-year low of $2.00 and a 1-year high of $8.45. The company has a current ratio of 10.18, a quick ratio of 10.50 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $195.93 million, a price-to-earnings ratio of -3.78 and a beta of 2.74. The firm has a fifty day simple moving average of $5.75 and a 200-day simple moving average of $6.21.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. On average, sell-side analysts expect that Sight Sciences will post -1.01 earnings per share for the current year.

Insider Buying and Selling at Sight Sciences

In related news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the completion of the transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,357 shares of company stock worth $574,666. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SGHT. American Century Companies Inc. increased its position in Sight Sciences by 31.1% during the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sight Sciences by 51.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after buying an additional 9,106 shares during the period. Steele Capital Management Inc. acquired a new position in shares of Sight Sciences during the second quarter worth $67,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Sight Sciences in the 1st quarter valued at about $59,000. Finally, Rhumbline Advisers raised its holdings in Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the last quarter. 55.51% of the stock is owned by institutional investors.

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.