Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja Purchases 10,000 Shares

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. The trade was a 7.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Sight Sciences Stock Performance

Shares of SGHT stock traded down $0.29 during trading hours on Thursday, hitting $2.40. 315,665 shares of the company were exchanged, compared to its average volume of 281,056. The firm has a fifty day simple moving average of $2.82 and a 200 day simple moving average of $4.30. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a 52-week low of $2.17 and a 52-week high of $8.45. The stock has a market capitalization of $121.81 million, a price-to-earnings ratio of -2.35 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The company had revenue of $19.07 million for the quarter, compared to analysts’ expectations of $18.98 million. During the same quarter in the previous year, the business earned ($0.22) EPS. Research analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. UBS Group decreased their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Piper Sandler decreased their price objective on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Citigroup decreased their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Lake Street Capital decreased their price objective on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average price target of $3.83.

Institutional Investors Weigh In On Sight Sciences

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in Sight Sciences in the 3rd quarter worth approximately $136,000. Millrace Asset Group Inc. purchased a new stake in shares of Sight Sciences during the 3rd quarter valued at $874,000. Jacobs Levy Equity Management Inc. raised its position in shares of Sight Sciences by 46.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after buying an additional 65,767 shares in the last quarter. State Street Corp raised its position in shares of Sight Sciences by 17.4% during the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after buying an additional 95,843 shares in the last quarter. Finally, Barclays PLC raised its position in Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after purchasing an additional 38,248 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.