Sight Sciences (NASDAQ:SGHT) Downgraded to “Sell” Rating by Wall Street Zen

Sight Sciences (NASDAQ:SGHT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Thursday, August 28th. Citigroup raised their target price on shares of Sight Sciences from $3.60 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Morgan Stanley lifted their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Lake Street Capital raised shares of Sight Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.00 to $5.00 in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.42.

Sight Sciences Stock Down 1.1%

SGHT opened at $3.69 on Friday. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $7.03. The company has a market capitalization of $193.25 million, a PE ratio of -3.84 and a beta of 2.46. The firm’s 50 day simple moving average is $3.82 and its two-hundred day simple moving average is $3.35.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The firm had revenue of $19.56 million during the quarter, compared to analysts’ expectations of $18.18 million. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Sight Sciences will post -0.99 EPS for the current year.

Insider Transactions at Sight Sciences

In related news, insider Jeremy B. Hayden sold 9,160 shares of Sight Sciences stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the transaction, the insider directly owned 266,321 shares of the company’s stock, valued at approximately $1,110,558.57. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 23,637 shares of Sight Sciences stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total transaction of $98,093.55. Following the transaction, the chief executive officer directly owned 5,986,943 shares of the company’s stock, 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. Over the last ninety days, insiders have sold 43,365 shares of company stock valued at $180,017. 30.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after buying an additional 3,137 shares in the last quarter. ProShare Advisors LLC bought a new stake in Sight Sciences during the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC lifted its holdings in Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after buying an additional 2,875 shares in the last quarter. Bank of Montreal Can bought a new stake in Sight Sciences during the 2nd quarter valued at about $49,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Sight Sciences by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock valued at $66,000 after buying an additional 4,453 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.