Citigroup Issues Pessimistic Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target decreased by stock analysts at Citigroup from $4.60 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 23.20% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. UBS Group decreased their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Morgan Stanley dropped their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Stifel Nicolaus decreased their price objective on Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Lake Street Capital dropped their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.42.

Sight Sciences Trading Down 3.0 %

Shares of Sight Sciences stock traded down $0.08 on Tuesday, hitting $2.44. 217,886 shares of the company’s stock traded hands, compared to its average volume of 245,604. Sight Sciences has a one year low of $2.29 and a one year high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The stock has a market capitalization of $123.59 million, a PE ratio of -2.39 and a beta of 2.52. The firm’s 50-day moving average price is $2.99 and its two-hundred day moving average price is $4.49.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 63,014 shares of company stock worth $197,295 in the last quarter. Corporate insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCK LTD. acquired a new position in Sight Sciences in the 4th quarter valued at about $15,925,000. Long Focus Capital Management LLC grew its position in shares of Sight Sciences by 158.8% in the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after purchasing an additional 1,373,535 shares during the last quarter. Prosight Management LP increased its stake 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 during the period. Geode Capital Management LLC increased its position in Sight Sciences by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock worth $2,887,000 after acquiring an additional 8,731 shares during the period. Finally, State Street Corp boosted its position in shares of Sight Sciences by 17.4% during the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after acquiring an additional 95,843 shares in the last quarter. 55.51% of the stock is owned by 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.