Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $4.02

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been assigned an average rating of "Hold" from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.02.

A number of analysts have recently weighed in on the stock. Citigroup restated a "neutral" rating and issued a $3.60 price target (up from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. Piper Sandler decreased their price objective on Sight Sciences from $5.50 to $3.50 and set a "neutral" rating for the company in a report on Thursday, March 6th. Stifel Nicolaus dropped their target price on Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Finally, Lake Street Capital increased their price target on Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research note on Friday, May 9th.

Insider Buying and Selling

In other Sight Sciences news, EVP Manohar K. Raheja purchased 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $2.73 per share, with a total value of $27,300.00. Following the transaction, the executive vice president now owns 145,000 shares of the company's stock, valued at $395,850. This represents a 7.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the sale, the chief executive officer now owns 6,010,580 shares of the company's stock, valued at approximately $13,824,334. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,196 shares of company stock worth $81,001 in the last 90 days. Insiders own 30.90% of the company's stock.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Sight Sciences by 654.3% in the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company's stock valued at $1,431,000 after purchasing an additional 340,906 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Sight Sciences by 53.4% in the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock worth $60,000 after buying an additional 5,781 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Sight Sciences by 79.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 243,954 shares of the company's stock worth $887,000 after acquiring an additional 108,001 shares during the period. American Century Companies Inc. grew its holdings in Sight Sciences by 10.7% during the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock worth $188,000 after acquiring an additional 4,964 shares during the period. Finally, B Group Inc. purchased a new position in Sight Sciences during the fourth quarter valued at approximately $2,291,000. Institutional investors and hedge funds own 55.51% of the company's stock.

Sight Sciences Stock Up 3.4%

SGHT stock traded up $0.13 during trading on Friday, hitting $3.82. 85,498 shares of the company's stock traded hands, compared to its average volume of 229,566. The firm has a market capitalization of $197.22 million, a P/E ratio of -3.74 and a beta of 2.41. Sight Sciences has a 1 year low of $2.03 and a 1 year high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $3.07.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The business had revenue of $17.51 million for the quarter, compared to the consensus estimate of $16.51 million. Sell-side analysts anticipate that Sight Sciences will post -0.99 EPS for the current year.

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.