Sight Sciences, Inc. (NASDAQ:SGHT) Receives $4.10 Average Target Price from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have received an average recommendation of "Hold" from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.10.

SGHT has been the subject of several recent analyst reports. Piper Sandler restated a "neutral" rating and set a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Lake Street Capital upped their price objective on shares of Sight Sciences from $2.50 to $3.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Citigroup reiterated a "neutral" rating and set a $3.60 target price (up from $3.20) on shares of Sight Sciences in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. Finally, Stifel Nicolaus cut their target price on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, March 6th.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total value of $55,600.20. Following the transaction, the chief executive officer now directly owns 6,010,580 shares of the company's stock, valued at $13,824,334. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 35,196 shares of company stock worth $81,001 in the last ninety days. 30.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company's stock valued at $1,431,000 after buying an additional 340,906 shares during the period. Wells Fargo & Company MN increased its position in Sight Sciences by 53.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after purchasing an additional 5,781 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sight Sciences by 79.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 243,954 shares of the company's stock worth $887,000 after purchasing an additional 108,001 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Sight Sciences during the fourth quarter valued at about $464,000. Finally, American Century Companies Inc. increased its position in shares of Sight Sciences by 10.7% during the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock valued at $188,000 after buying an additional 4,964 shares during the period. 55.51% of the stock is owned by institutional investors.

Sight Sciences Stock Up 1.2%

Shares of SGHT traded up $0.05 during trading hours on Tuesday, reaching $4.30. 670,566 shares of the stock traded hands, compared to its average volume of 219,070. The company has a market cap of $222.31 million, a price-to-earnings ratio of -4.39 and a beta of 2.46. The company has a current ratio of 10.47, a quick ratio of 9.99 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $3.56 and a 200 day simple moving average of $3.12. Sight Sciences has a 52 week low of $2.03 and a 52 week high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative return on equity of 54.62% and a negative net margin of 63.24%. The firm had revenue of $17.51 million for the quarter, compared to analysts' expectations of $16.51 million. On average, equities analysts forecast that Sight Sciences will post -0.99 EPS for the current year.

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.