Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $6.50 at Citigroup

Sight Sciences (NASDAQ:SGHT) had its price target lowered by investment analysts at Citigroup from $9.10 to $6.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 77.60% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group upped their target price on shares of Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Morgan Stanley boosted their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. William Blair reaffirmed an “outperform” rating on shares of Sight Sciences in a research report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Finally, Stifel Nicolaus boosted their price target on Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sight Sciences has an average rating of “Hold” and an average target price of $8.44.

Sight Sciences Stock Down 7.6%

Shares of NASDAQ SGHT traded down $0.30 during trading on Friday, reaching $3.66. The company had a trading volume of 277,046 shares, compared to its average volume of 297,615. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $9.24. The company has a quick ratio of 8.93, a current ratio of 9.60 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average is $6.29 and its 200 day moving average is $5.75. The stock has a market cap of $193.50 million, a PE ratio of -4.88 and a beta of 2.43.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. Sight Sciences had a negative return on equity of 54.39% and a negative net margin of 49.67%.The firm had revenue of $20.39 million during the quarter, compared to analyst estimates of $20.35 million. As a group, equities analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Sight Sciences

In related news, CFO James Rodberg sold 4,405 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $7.82, for a total transaction of $34,447.10. Following the completion of the sale, the chief financial officer owned 154,440 shares in the company, valued at approximately $1,207,720.80. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 22,362 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $6.62, for a total value of $148,036.44. Following the completion of the transaction, the chief executive officer directly owned 6,025,840 shares in the company, valued at $39,891,060.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 99,796 shares of company stock worth $719,722. 30.90% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

Large investors have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC raised its position in Sight Sciences by 1.3% in the third quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after acquiring an additional 41,797 shares during the period. Vanguard Group Inc. increased its stake in shares of Sight Sciences by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock worth $6,559,000 after purchasing an additional 102,609 shares in the last quarter. Americana Partners LLC raised its holdings in Sight Sciences by 12.1% in the 4th quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after purchasing an additional 149,161 shares during the period. B Group Inc. raised its holdings in Sight Sciences by 11.6% in the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after purchasing an additional 96,400 shares during the period. Finally, Geode Capital Management LLC lifted its position in Sight Sciences by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 880,958 shares of the company’s stock valued at $6,988,000 after purchasing an additional 27,802 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.