Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $3.93

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have earned a consensus recommendation of "Hold" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.93.

Several research analysts have recently commented on the company. Lake Street Capital raised their price objective on Sight Sciences from $2.50 to $3.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Morgan Stanley upped their price target on shares of Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a research note on Tuesday. Citigroup reiterated a "neutral" rating and issued a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of Sight Sciences from a "hold" rating to a "sell" rating in a report on Friday.

Sight Sciences Trading Down 1.1%

Sight Sciences stock traded down $0.04 during mid-day trading on Friday, hitting $3.50. The company had a trading volume of 80,708 shares, compared to its average volume of 207,279. 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's 50 day moving average price is $3.80 and its two-hundred day moving average price is $3.14. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. The business had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.51 million. Research analysts expect that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Transactions at Sight Sciences

In other news, insider Jeremy B. Hayden sold 9,160 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total value of $38,197.20. Following the sale, the insider directly owned 266,321 shares of the company's stock, valued at $1,110,558.57. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total transaction of $98,093.55. Following the transaction, the chief executive officer owned 5,986,943 shares of the company's stock, valued at $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,365 shares of company stock worth $180,017 over the last three months. Corporate insiders own 30.90% of the company's stock.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors have recently modified their holdings of the business. Palumbo Wealth Management LLC acquired a new position in shares of Sight Sciences during the 2nd quarter worth about $328,000. KCK LTD. purchased a new stake in Sight Sciences during the 2nd quarter worth approximately $18,069,000. Rhumbline Advisers raised its holdings in shares of Sight Sciences by 9.5% during the first quarter. Rhumbline Advisers now owns 49,797 shares of the company's stock valued at $120,000 after acquiring an additional 4,319 shares during the last quarter. Strs Ohio purchased a new position in shares of Sight Sciences in the first quarter valued at approximately $158,000. Finally, Acadian Asset Management LLC lifted its position in shares of Sight Sciences by 127.7% in the first quarter. Acadian Asset Management LLC now owns 432,541 shares of the company's stock valued at $1,033,000 after acquiring an additional 242,559 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.