Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $4.27

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $4.2667.

SGHT has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Morgan Stanley increased their price target on Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Citigroup reissued a “neutral” rating and set a $3.60 price target (up from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Wall Street Zen raised Sight Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Lake Street Capital raised Sight Sciences from a “hold” rating to a “buy” rating and increased their price target for the company from $3.00 to $5.00 in a report on Friday, August 8th.

Insider Buying and Selling at Sight Sciences

In related news, insider Jeremy B. Hayden sold 9,160 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total value of $38,197.20. Following the transaction, the insider directly owned 266,321 shares of the company’s stock, valued at approximately $1,110,558.57. This trade represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 23,637 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the transaction, the chief executive officer directly owned 5,986,943 shares in the company, valued at approximately $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,365 shares of company stock worth $180,017 over the last three months. Insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Institutional investors have recently bought and sold shares of the stock. Foster Victor Wealth Advisors LLC purchased a new stake in Sight Sciences in the 1st quarter worth $85,000. Renaissance Technologies LLC increased its stake in Sight Sciences by 654.3% in the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after buying an additional 340,906 shares in the last quarter. Wells Fargo & Company MN increased its stake in Sight Sciences by 53.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock worth $60,000 after buying an additional 5,781 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sight Sciences by 79.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 243,954 shares of the company’s stock worth $887,000 after buying an additional 108,001 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Sight Sciences in the 4th quarter worth $464,000. 55.51% of the stock is owned by institutional investors.

Sight Sciences Stock Performance

SGHT stock opened at $4.20 on Wednesday. The stock has a market capitalization of $219.95 million, a PE ratio of -4.37 and a beta of 2.44. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $7.05. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. The stock’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $3.21.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02. The business had revenue of $19.56 million for the quarter, compared to analysts’ expectations of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. As a group, research analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

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.