Sight Sciences, Inc. (NASDAQ:SGHT) Receives $8.14 Consensus Price Target from Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned an average rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.25.

A number of research firms have recently weighed in on SGHT. Weiss Ratings downgraded shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Citigroup lifted their price target on shares of Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday.

Sight Sciences News Summary

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares at an average price of $5.42, the largest disclosed insider transaction and the clearest negative signal for sentiment. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to concerns because sales came from another key member of management. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi sold 7,418 shares and insider Jeremy B. Hayden sold 12,733 shares, reinforcing the pattern of insider selling across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock
• Negative Sentiment: EVP Brenton Taylor also sold 2,829 shares, extending the insider-selling trend and likely weighing on the stock. Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Insider Transactions at Sight Sciences

In other Sight Sciences news, CTO David Badawi sold 7,418 shares of the firm’s stock in a transaction 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 sale, the chief technology officer directly owned 1,982,872 shares of the company’s stock, valued at $10,925,624.72. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Rodberg sold 6,902 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total value of $36,994.72. Following the completion of the sale, the chief financial officer owned 224,037 shares in the company, valued at approximately $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 58,566 shares of company stock valued at $318,827. Corporate insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in Sight Sciences by 5.5% during the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock valued at $118,000 after purchasing an additional 1,800 shares during the last quarter. Deutsche Bank AG raised its position in shares of Sight Sciences by 9.8% in the fourth quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock valued at $217,000 after purchasing an additional 2,439 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Sight Sciences by 32.7% in the second 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 during the period. Dimensional Fund Advisors LP lifted its stake 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after buying an additional 3,785 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Price Performance

SGHT stock opened at $5.35 on Friday. The stock has a market cap of $291.09 million, a P/E ratio of -7.54 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. The stock’s fifty day simple moving average is $4.99 and its two-hundred day simple moving average is $5.27. Sight Sciences has a 1-year low of $3.11 and a 1-year high of $9.24.

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

Sight Sciences Company Profile

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.