Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Recommendation of “Moderate Buy” by Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.30.

SGHT has been the subject of a number of research reports. William Blair upgraded shares of Sight Sciences to a “strong-buy” rating in a report on Friday, January 30th. Lake Street Capital increased their price objective on Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Citigroup raised their price objective on Sight Sciences from $5.50 to $9.10 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Raymond James Financial set a $9.00 target price on Sight Sciences in a research report on Monday, January 5th. Finally, Morgan Stanley increased their price target on Sight Sciences from $6.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $5.77 on Wednesday. Sight Sciences has a twelve month low of $2.03 and a twelve month high of $9.24. The company has a current ratio of 9.60, a quick ratio of 8.93 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $305.06 million, a price-to-earnings ratio of -6.41 and a beta of 2.41. The firm has a 50-day moving average of $7.36 and a two-hundred day moving average of $5.60.

Insider Buying and Selling

In other news, insider Jeremy B. Hayden sold 44,850 shares of Sight Sciences stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $8.08, for a total value of $362,388.00. Following the transaction, the insider directly owned 256,590 shares of the company’s stock, valued at $2,073,247.20. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Rodberg sold 4,405 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $7.82, for a total transaction of $34,447.10. Following the sale, the chief financial officer owned 154,440 shares in the company, valued at $1,207,720.80. This represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 159,064 shares of company stock valued at $1,183,901. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of hedge funds have recently modified their holdings of SGHT. BNP Paribas Financial Markets grew its holdings in shares of Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after buying an additional 3,785 shares in the last quarter. CWM LLC lifted its stake in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after acquiring an additional 3,137 shares in the last quarter. AXQ Capital LP acquired a new stake in Sight Sciences during the 4th quarter worth about $89,000. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 2,875 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Sight Sciences during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.