Morgan Stanley Issues Positive Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its price target increased by equities research analysts at Morgan Stanley from $3.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 13.96% from the company's current price.

A number of other equities research analysts also recently commented on SGHT. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Lake Street Capital lifted their price objective on Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Citigroup reaffirmed a "neutral" rating and issued a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a research report on Thursday, May 22nd. Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 price objective (up previously from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Finally, Wall Street Zen raised Sight Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $3.93.

Sight Sciences Price Performance

Sight Sciences stock traded up $0.17 during mid-day trading on Tuesday, hitting $3.51. 68,448 shares of the company were exchanged, compared to its average volume of 207,893. The company has a debt-to-equity ratio of 0.51, a current ratio of 10.47 and a quick ratio of 9.99. The business's 50 day simple moving average is $3.77 and its two-hundred day simple moving average is $3.13. The company has a market capitalization of $181.47 million, a P/E ratio of -3.59 and a beta of 2.47. 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 results on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $17.51 million during the quarter, compared to the consensus estimate of $16.51 million. Analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total transaction of $38,197.20. Following the transaction, the insider owned 266,321 shares in the company, valued at $1,110,558.57. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the transaction, the chief executive officer owned 5,986,943 shares in the company, valued at approximately $24,845,813.45. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,365 shares of company stock worth $180,017 in the last quarter. 28.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KCK LTD. acquired a new position in shares of Sight Sciences during the second quarter worth about $18,069,000. Long Focus Capital Management LLC lifted its stake in shares of Sight Sciences by 39.7% during the first quarter. Long Focus Capital Management LLC now owns 3,126,508 shares of the company's stock worth $7,504,000 after purchasing an additional 887,876 shares in the last quarter. Prosight Management LP lifted its stake in shares of Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company's stock worth $3,308,000 after purchasing an additional 377,625 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Sight Sciences by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company's stock worth $2,887,000 after acquiring an additional 8,731 shares in the last quarter. Finally, B Group Inc. acquired a new position in shares of Sight Sciences in the fourth quarter worth about $2,291,000. Institutional investors and hedge funds 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.