Sight Sciences, Inc. (NASDAQ:SGHT) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Eight firms rate Sight Sciences an average “Moderate Buy,” with five buys, two holds, and one sell. The average 12-month price target is $7.88.
• Latest quarterly results beat expectations: Sight Sciences reported a loss of $0.08 per share versus the expected $0.18 loss and revenue of $23.39 million, above the $21.72 million consensus estimate.
• Shares opened at $8.14, up 0.4%, with the stock trading between a 52-week range of $3.19 to $9.24. Insiders have sold 58,566 shares worth about $318,827 over the past 90 days, while institutional investors own 55.51% of the company.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.8750.

SGHT has been the topic of a number of analyst reports. UBS Group increased their target price on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Sight Sciences in a research report on Friday, August 7th. Citigroup reiterated a "neutral" rating on shares of Sight Sciences in a research note on Thursday, August 13th. Finally, Wall Street Zen raised Sight Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th.

Insider Buying and Selling

In related 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 transaction, the chief technology officer owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. This trade 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 is accessible through this link. Also, insider Jeremy B. Hayden sold 12,733 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 $70,158.83. Following the completion of the transaction, the insider owned 357,037 shares in the company, valued at $1,967,273.87. The trade was a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,566 shares of company stock valued at $318,827 over the last 90 days. 30.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently bought and sold shares of the company. Conquis Financial LLC acquired a new position in shares of Sight Sciences in the 2nd quarter valued at approximately $27,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the 2nd quarter worth approximately $60,000. AXQ Capital LP bought a new position in Sight Sciences in the fourth quarter valued at approximately $89,000. Diversified Trust Co bought a new position in Sight Sciences in the first quarter valued at approximately $51,000. Finally, Ieq Capital LLC bought a new position in Sight Sciences in the second quarter valued at approximately $135,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Stock Up 0.4%

Shares of SGHT opened at $8.14 on Thursday. The firm has a market cap of $448.43 million, a P/E ratio of -14.54 and a beta of 2.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. Sight Sciences has a 52 week low of $3.19 and a 52 week high of $9.24. The firm's 50-day simple moving average is $6.98 and its 200 day simple moving average is $5.39.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The business had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. On average, analysts forecast that Sight Sciences will post -0.52 earnings per share for the current year.

About Sight Sciences

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for common eye diseases. The company's products are designed to address glaucoma and dry eye disease, with an emphasis on minimally invasive procedures and technologies intended for use by eye-care professionals.

Its glaucoma portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to help reduce intraocular pressure by improving the eye's natural fluid outflow pathways.

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