Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) PT at $7.88

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.8750.

Several equities analysts recently commented on SGHT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group upped their price objective on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup reiterated a “neutral” rating on shares of Sight Sciences in a research note on Thursday, August 13th.

Sight Sciences Trading Down 0.7%

Shares of NASDAQ:SGHT opened at $8.02 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. The stock’s 50-day moving average is $7.09 and its 200-day moving average is $5.43. The company has a market cap of $441.82 million, a P/E ratio of -14.32 and a beta of 2.50. Sight Sciences has a 52-week low of $3.19 and a 52-week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. The business had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $21.72 million. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. Equities research analysts predict that Sight Sciences will post -0.52 earnings per share for the current year.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CTO David Badawi sold 7,418 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the transaction, the chief technology officer owned 1,982,872 shares of the company’s stock, valued at $10,925,624.72. This represents a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeremy Hayden sold 12,733 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of the sale, the insider owned 357,037 shares of the company’s stock, valued at $1,967,273.87. This represents a 3.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 58,566 shares of company stock worth $318,827. Insiders own 30.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SGHT. BlackRock Inc. acquired a new stake in Sight Sciences during the second quarter worth $16,710,000. GSA Capital Partners LLP acquired a new position in shares of Sight Sciences in the 2nd quarter valued at $908,000. Americana Partners LLC lifted its holdings in shares of Sight Sciences by 12.1% during the 4th quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after acquiring an additional 149,161 shares during the period. Bank of America Corp DE bought a new position in shares of Sight Sciences during the 2nd quarter worth about $520,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Sight Sciences during the 2nd quarter valued at about $495,000. 55.51% of the stock is owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for common eye diseases. The company’s products are designed to address glaucoma and dry eye disease, with an emphasis on minimally invasive procedures and technologies intended for use by eye-care professionals.

Its glaucoma portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to help reduce intraocular pressure by improving the eye’s natural fluid outflow pathways.