Manohar K. Raheja Purchases 4,624 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja purchased 4,624 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $18,449.76. Following the transaction, the executive vice president now owns 102,624 shares of the company’s stock, valued at $409,469.76. This trade represents a 4.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sight Sciences Price Performance

Shares of SGHT opened at $3.86 on Wednesday. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a twelve month low of $2.58 and a twelve month high of $8.45. The stock has a market capitalization of $195.93 million, a P/E ratio of -3.78 and a beta of 2.58. The company has a 50 day moving average of $5.09 and a 200-day moving average of $6.07.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. As a group, equities research analysts forecast that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SGHT has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital lowered shares of 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, Morgan Stanley lowered their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Sight Sciences presently has an average rating of “Hold” and an average price target of $5.50.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds have recently modified their holdings of SGHT. American Century Companies Inc. raised its holdings 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 in the last quarter. Steele Capital Management Inc. acquired a new position in shares of Sight Sciences during the 2nd quarter worth approximately $67,000. Rhumbline Advisers raised its stake in shares of 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 in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sight Sciences in the 3rd quarter valued at approximately $75,000. Finally, Geode Capital Management LLC grew its stake in shares of Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after buying an additional 12,709 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

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.