Sight Sciences (NASDAQ:SGHT) Now Covered by Analysts at UBS Group

Key Points

• UBS Group initiated coverage of Sight Sciences with a “Buy” rating and a $7.00 price target, implying approximately 32% upside from the stock’s $5.30 price.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, three a Hold, and one a Sell. The consensus rating is Hold, with an average price target of $7.75.
• Sight Sciences reported a quarterly loss of $0.24 per share, missing expectations by $0.05, though revenue of $19.70 million exceeded forecasts. Insiders have sold 58,566 shares worth roughly $318,827 over the past 90 days.

Analysts at UBS Group began coverage on shares of Sight Sciences (NASDAQ:SGHT - Get Free Report) in a research report issued on Tuesday. The firm set a "buy" rating and a $7.00 price target on the stock. UBS Group's target price points to a potential upside of 32.18% from the stock's current price.

A number of other equities research analysts also recently commented on SGHT. Citigroup raised their price objective on shares of Sight Sciences from $5.15 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Weiss Ratings downgraded Sight Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.75.

Sight Sciences Stock Performance

Sight Sciences stock traded up $0.18 during mid-day trading on Tuesday, reaching $5.30. 9,720 shares of the company were exchanged, compared to its average volume of 266,389. Sight Sciences has a twelve month low of $3.11 and a twelve month high of $9.24. The firm's 50-day simple moving average is $5.08 and its two-hundred day simple moving average is $4.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86. The firm has a market cap of $288.16 million, a PE ratio of -7.45 and a beta of 2.38.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $19.70 million for the quarter, compared to analysts' expectations of $18.46 million. Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%. Equities analysts predict that Sight Sciences will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeremy B. Hayden sold 12,733 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the transaction, the insider owned 357,037 shares of the company's stock, valued at approximately $1,967,273.87. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Rodberg sold 6,902 shares of Sight Sciences stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the completion of the sale, the chief financial officer directly owned 224,037 shares of the company's stock, valued at $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHT. Renaissance Technologies LLC increased its stake in Sight Sciences by 6.3% in the first quarter. Renaissance Technologies LLC now owns 293,358 shares of the company's stock valued at $1,106,000 after purchasing an additional 17,458 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Sight Sciences by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company's stock worth $1,288,000 after buying an additional 40,346 shares during the last quarter. WealthTrust Asset Management LLC grew its holdings in Sight Sciences by 14.1% in the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company's stock valued at $168,000 after buying an additional 5,529 shares during the period. Hillsdale Investment Management Inc. grew its holdings in Sight Sciences by 7,118.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 69,300 shares of the company's stock valued at $261,000 after buying an additional 68,340 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Sight Sciences during the 1st quarter valued at about $147,000. Hedge funds and other institutional investors own 55.51% of the company's stock.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.

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