Sight Sciences, Inc. (NASDAQ:SGHT) Receives $4.68 Average PT from Analysts

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.68.

SGHT has been the topic of a number of recent analyst reports. Citigroup reduced their price target on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Lake Street Capital lowered their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Stifel Nicolaus cut their price objective on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. UBS Group lowered their target price on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 13,000 shares of company stock valued at $50,832 and have sold 63,014 shares valued at $197,295. Insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors and hedge funds have recently modified their holdings of SGHT. Squarepoint Ops LLC lifted its position in Sight Sciences by 314.2% during the 4th quarter. Squarepoint Ops LLC now owns 169,211 shares of the company’s stock worth $616,000 after acquiring an additional 128,355 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Sight Sciences during the fourth quarter valued at approximately $36,000. Prosight Management LP lifted its position in shares of Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after purchasing an additional 377,625 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Sight Sciences in the fourth quarter valued at $464,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Sight Sciences by 27.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 410,325 shares of the company’s stock valued at $1,494,000 after purchasing an additional 88,738 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Performance

NASDAQ:SGHT opened at $2.53 on Wednesday. Sight Sciences has a 1-year low of $2.50 and a 1-year high of $8.45. The firm has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $4.62. The firm has a market cap of $128.42 million, a PE ratio of -2.48 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74.

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.