UBS Group Initiates Coverage on Sight Sciences (NASDAQ:SGHT)

Equities research analysts at UBS Group assumed coverage on shares of Sight Sciences (NASDAQ:SGHT) in a report issued on Tuesday. The firm set a “buy” rating and a $7.00 price target on the stock. UBS Group’s price target suggests a potential upside of 32.18% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Citigroup boosted their target price on Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

Sight Sciences Trading Up 3.4%

Shares of SGHT traded up $0.18 during mid-day trading on Tuesday, reaching $5.30. The company had a trading volume of 9,720 shares, compared to its average volume of 266,389. Sight Sciences has a fifty-two week low of $3.11 and a fifty-two week high of $9.24. The firm has a fifty day simple moving average of $5.08 and a 200-day simple moving average of $4.98. The stock has a market cap of $288.16 million, a price-to-earnings ratio of -7.45 and a beta of 2.38. The company has a current ratio of 5.86, a quick ratio of 5.48 and a debt-to-equity ratio of 0.68.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The firm had revenue of $19.70 million during the quarter, compared to analysts’ expectations of $18.46 million. On average, sell-side analysts anticipate that Sight Sciences will post -0.6 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 28,684 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total value of $155,467.28. Following the completion of the sale, the chief executive officer directly owned 6,122,472 shares of the company’s stock, valued at $33,183,798.24. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Rodberg sold 6,902 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total value of $36,994.72. Following the transaction, the chief financial officer owned 224,037 shares in the company, valued at $1,200,838.32. This trade represents a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 58,566 shares of company stock worth $318,827 over the last quarter. Company insiders own 30.40% of the company’s stock.

Institutional Trading of Sight Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its holdings in shares of Sight Sciences by 5.5% during the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after purchasing an additional 1,800 shares during the period. Deutsche Bank AG boosted its holdings in shares of Sight Sciences by 9.8% in the 4th quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock valued at $217,000 after buying an additional 2,439 shares during the period. Tower Research Capital LLC TRC grew its position in shares of 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 during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sight Sciences by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock valued at $1,045,000 after buying an additional 3,051 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares during the period. 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.