Sight Sciences (NASDAQ:SGHT) Earns Neutral Rating from Piper Sandler

Sight Sciences (NASDAQ:SGHT)‘s stock had its “neutral” rating restated by research analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They currently have a $5.50 target price on the stock, down from their prior target price of $6.00. Piper Sandler’s target price would suggest a potential upside of 17.52% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Friday. Morgan Stanley upped their price target on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $5.00 in a research note on Monday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.88.

Sight Sciences Trading Down 8.2 %

SGHT opened at $4.68 on Friday. Sight Sciences has a one year low of $1.58 and a one year high of $8.45. The stock has a market capitalization of $235.45 million, a PE ratio of -4.37 and a beta of 2.74. The business’s 50 day moving average price is $5.98 and its 200 day moving average price is $6.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. As a group, equities research analysts expect that Sight Sciences will post -1 EPS for the current year.

Insider Transactions at Sight Sciences

In other news, insider Matthew Link sold 21,831 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Matthew Link sold 21,831 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, the chief executive officer now directly owns 5,725,433 shares in the company, valued at $34,295,343.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,357 shares of company stock valued at $574,666. 28.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Sight Sciences in the third quarter valued at $136,000. SG Americas Securities LLC purchased a new position in Sight Sciences in the third quarter valued at $75,000. B. Riley Wealth Advisors Inc. purchased a new position in Sight Sciences in the second quarter valued at $1,234,000. Long Focus Capital Management LLC grew its holdings in shares of Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Sight Sciences during the second quarter worth about $95,000. Hedge funds and other institutional investors 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.