Sight Sciences, Inc. (NASDAQ:SGHT) Stock Has Consensus Target Price of $8.38 According to Analysts

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.38.

Several research firms have issued reports on SGHT. UBS Group increased their price objective on Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Citigroup increased their target price on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, October 5th.

Sight Sciences Stock Down 1.7%

Shares of SGHT opened at $8.25 on Monday. The stock has a market cap of $454.49 million, a price-to-earnings ratio of -14.73 and a beta of 2.45. The company has a quick ratio of 4.67, a current ratio of 4.95 and a debt-to-equity ratio of 0.58. Sight Sciences has a 12 month low of $3.34 and a 12 month high of $9.71. The company has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $6.04.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. The company had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Equities analysts predict that Sight Sciences will post -0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Rodberg sold 7,208 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $63,790.80. Following the transaction, the chief financial officer owned 216,829 shares in the company, valued at $1,918,936.65. This represents a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brenton Taylor sold 2,988 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $26,443.80. Following the transaction, the executive vice president owned 261,990 shares in the company, valued at approximately $2,318,611.50. This trade represents a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 47,646 shares of company stock valued at $429,157. 30.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Conquis Financial LLC acquired a new position in shares of Sight Sciences during the second quarter valued at $27,000. WealthTrust Asset Management LLC lifted its stake in shares of 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 purchasing an additional 5,529 shares during the period. Algert Global LLC boosted its position in shares of Sight Sciences by 25.3% in the 2nd quarter. Algert Global LLC now owns 28,266 shares of the company’s stock worth $153,000 after purchasing an additional 5,706 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Sight Sciences by 21.6% in the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock worth $255,000 after purchasing an additional 8,297 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the second quarter worth $60,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.