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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $4.68.

A number of analysts have weighed in on SGHT shares. Stifel Nicolaus cut their price target on Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley cut their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Citigroup dropped their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, UBS Group reduced their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th.

Sight Sciences Price Performance

Shares of SGHT opened at $2.53 on Wednesday. The firm has a market capitalization of $128.42 million, a price-to-earnings ratio of -2.48 and a beta of 2.52. The firm’s fifty day simple moving average is $3.10 and its 200-day simple moving average is $4.62. Sight Sciences has a twelve month low of $2.50 and a twelve month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have acquired 13,000 shares of company stock valued at $50,832 and have sold 63,014 shares valued at $197,295. Corporate insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently made changes to their positions in SGHT. American Century Companies Inc. increased its position in Sight Sciences by 10.7% in the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock valued at $188,000 after acquiring an additional 4,964 shares during the period. SG Americas Securities LLC increased its holdings in shares of Sight Sciences by 47.6% in the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after purchasing an additional 5,681 shares during the period. Wells Fargo & Company MN raised its stake in shares of Sight Sciences by 53.4% during the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock worth $60,000 after purchasing an additional 5,781 shares during the last quarter. Barclays PLC lifted its holdings in shares of Sight Sciences by 11.9% during the fourth quarter. Barclays PLC now owns 56,294 shares of the company’s stock worth $205,000 after purchasing an additional 5,994 shares during the period. Finally, Northern Trust Corp grew its position in Sight Sciences by 2.1% in the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company’s stock valued at $1,210,000 after buying an additional 6,727 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

About Sight Sciences

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.