Citigroup Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $3.00

Sight Sciences (NASDAQ:SGHT) had its price objective dropped by equities research analysts at Citigroup from $4.60 to $3.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 23.20% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley decreased their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Lake Street Capital reduced their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. UBS Group dropped their price objective on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Finally, Stifel Nicolaus dropped their price target on Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.42.

Sight Sciences Trading Down 3.0 %

Shares of SGHT stock traded down $0.08 during mid-day trading on Tuesday, reaching $2.44. The company’s stock had a trading volume of 217,886 shares, compared to its average volume of 245,604. The company’s 50 day simple moving average is $2.99 and its 200-day simple moving average is $4.49. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 12-month low of $2.29 and a 12-month high of $8.45. The firm has a market capitalization of $123.59 million, a PE ratio of -2.39 and a beta of 2.52.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 63,014 shares of company stock valued at $197,295 over the last three months. 28.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

Several large investors have recently made changes to their positions in SGHT. B. Riley Wealth Advisors Inc. increased its position in Sight Sciences by 24.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 243,082 shares of the company’s stock worth $885,000 after buying an additional 48,000 shares during the last quarter. Squarepoint Ops LLC lifted its position in Sight Sciences by 314.2% during the 4th quarter. Squarepoint Ops LLC now owns 169,211 shares of the company’s stock worth $616,000 after acquiring an additional 128,355 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Sight Sciences in the 4th quarter worth approximately $36,000. Prosight Management LP raised its holdings in shares of Sight Sciences by 71.1% in the 4th quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after buying an additional 377,625 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Sight Sciences in the fourth quarter valued at approximately $464,000. 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.