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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.30.

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Sight Sciences from $6.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Citigroup increased their target price on Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Piper Sandler set a $9.00 price target on Sight Sciences in a report on Monday, January 5th. Finally, William Blair upgraded Sight Sciences to a “strong-buy” rating in a report on Friday, January 30th.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.16 on Friday. Sight Sciences has a one year low of $2.03 and a one year high of $9.24. The company’s 50-day moving average is $6.58 and its 200 day moving average is $5.74. The company has a market capitalization of $272.81 million, a price-to-earnings ratio of -5.73 and a beta of 2.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.93 and a current ratio of 9.60.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 22,362 shares of Sight Sciences stock in a transaction on 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 sale, the chief executive officer owned 6,025,840 shares of the company’s stock, valued at $39,891,060.80. The trade was a 0.37% decrease in their ownership of the stock. The sale 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 company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $7.82, for a total value of $34,447.10. Following the sale, the chief financial officer owned 154,440 shares of the company’s stock, valued at approximately $1,207,720.80. This trade represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 99,796 shares of company stock worth $719,722. Company insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Americana Partners LLC grew its position in Sight Sciences by 42.4% during the third quarter. Americana Partners LLC now owns 1,229,819 shares of the company’s stock valued at $4,231,000 after buying an additional 365,901 shares during the period. B Group Inc. grew its position in shares of Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock valued at $3,841,000 after acquiring an additional 96,400 shares during the period. Bank of Montreal Can purchased a new stake in shares of Sight Sciences in the 2nd quarter worth $49,000. AXQ Capital LP bought a new position in Sight Sciences in the 4th quarter worth $89,000. Finally, Virtu Financial LLC purchased a new position in Sight Sciences during the fourth quarter valued at $109,000. 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.