Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Rating of “Moderate Buy” from Analysts

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

A number of equities research analysts have recently issued reports on the stock. Piper Sandler set a $9.00 price target on shares of Sight Sciences in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Lake Street Capital upped their price target on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Morgan Stanley raised their price target on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Citigroup lifted their price objective on Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a research note on Thursday, December 11th.

Sight Sciences Price Performance

SGHT stock opened at $6.47 on Wednesday. Sight Sciences has a 52-week low of $2.03 and a 52-week 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 stock has a market cap of $342.07 million, a price-to-earnings ratio of -7.19 and a beta of 2.41. The business has a fifty day moving average of $7.60 and a two-hundred day moving average of $5.52.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $19.91 million during the quarter, compared to analysts’ expectations of $17.74 million. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. As a group, research analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 22,362 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $6.62, for a total transaction of $148,036.44. Following the sale, the chief executive officer owned 6,025,840 shares of the company’s stock, valued at approximately $39,891,060.80. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Badawi sold 4,836 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $6.62, for a total transaction of $32,014.32. Following the completion of the transaction, the chief technology officer directly owned 1,912,273 shares of the company’s stock, valued at approximately $12,659,247.26. The trade was a 0.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 162,214 shares of company stock valued at $1,209,132. 28.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after acquiring an additional 3,785 shares in the last quarter. CWM LLC raised its position in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after purchasing an additional 3,137 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Sight Sciences in the 2nd quarter valued at about $49,000. Finally, R Squared Ltd acquired a new position in shares of Sight Sciences during the third quarter worth about $64,000. 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.