Sight Sciences (NASDAQ:SGHT) Given New $4.00 Price Target at Citigroup

Sight Sciences (NASDAQ:SGHT) had its target price trimmed by Citigroup from $4.50 to $4.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

SGHT has been the topic of several other reports. Wall Street Zen raised Sight Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Piper Sandler reaffirmed a “neutral” rating and set a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sight Sciences in a research report on Saturday, September 27th. Finally, Morgan Stanley upped their target price on Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.33.

Sight Sciences Trading Up 3.3%

Shares of NASDAQ SGHT opened at $3.47 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. The stock has a market capitalization of $181.72 million, a P/E ratio of -3.61 and a beta of 2.41. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $6.29. The business has a fifty day moving average price of $3.74 and a 200 day moving average price of $3.48.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share 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 return on equity of 59.38% and a negative net margin of 64.23%. Sight Sciences has set its FY 2025 guidance at EPS. Equities research analysts expect that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Badawi sold 24,441 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $3.34, for a total value of $81,632.94. Following the sale, the chief executive officer owned 5,962,502 shares in the company, valued at $19,914,756.68. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeremy B. Hayden sold 9,731 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $3.27, for a total value of $31,820.37. Following the completion of the sale, the insider owned 256,590 shares in the company, valued at approximately $839,049.30. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,205 shares of company stock worth $133,181. 28.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently bought and sold shares of the company. CWM LLC boosted its position in Sight Sciences by 70.2% in the second quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after buying an additional 3,137 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after acquiring an additional 2,875 shares during the period. Bank of Montreal Can acquired a new stake in Sight Sciences during the second quarter worth about $49,000. Vanguard Personalized Indexing Management LLC grew its holdings in Sight Sciences by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock worth $66,000 after acquiring an additional 4,453 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Sight Sciences during the second quarter worth about $67,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Company Profile

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.