Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $5.00 at UBS Group

Sight Sciences (NASDAQ:SGHT) had its price objective cut by investment analysts at UBS Group from $5.50 to $5.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 70.07% from the company’s current price.

A number of other research analysts have also issued reports on the company. Lake Street Capital decreased their target price on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 15th. Morgan Stanley decreased their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Piper Sandler reissued a “neutral” rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Finally, Citigroup lowered their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.62.

Sight Sciences Stock Performance

SGHT traded up $0.01 on Monday, reaching $2.94. The stock had a trading volume of 30,379 shares, compared to its average volume of 256,305. The business’s 50-day moving average price is $3.53 and its two-hundred day moving average price is $5.28. The company has a market cap of $149.22 million, a P/E ratio of -2.89 and a beta of 2.57. Sight Sciences has a 12-month low of $2.67 and a 12-month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Sell-side analysts forecast that Sight Sciences will post -1.01 earnings per share for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders acquired 15,000 shares of company stock worth $58,232 and sold 63,014 shares worth $197,295. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Sight Sciences by 47.6% during the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after buying an additional 5,681 shares during the period. American Century Companies Inc. increased its stake 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 last quarter. B. Riley Wealth Advisors Inc. increased its stake in Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock worth $1,174,000 after acquiring an additional 10,000 shares during the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 12,709 shares during the period. Finally, Arkadios Wealth Advisors acquired a new position in shares of Sight Sciences in the 4th quarter valued at $47,000. 55.51% of the stock is owned by institutional investors and hedge funds.

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.