Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $4.60 at Citigroup

Sight Sciences (NASDAQ:SGHT) had its target price decreased by equities researchers at Citigroup from $5.80 to $4.60 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 17.95% from the stock’s current price.

SGHT has been the topic of a number of other research reports. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Morgan Stanley reduced their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Lake Street Capital downgraded shares of Sight Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $5.00 in a research report on Monday, November 4th. Finally, UBS Group assumed coverage on shares of Sight Sciences in a research note on Friday, December 6th. They set a “buy” rating and a $5.50 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.12.

Sight Sciences Stock Performance

SGHT traded down $0.01 during trading on Wednesday, reaching $3.90. The company’s stock had a trading volume of 131,553 shares, compared to its average volume of 201,189. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a 52-week low of $2.71 and a 52-week high of $8.45. The company’s fifty day moving average price is $4.78 and its 200-day moving average price is $6.00. The company has a market capitalization of $197.94 million, a price-to-earnings ratio of -3.82 and a beta of 2.58.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. On average, equities analysts forecast that Sight Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 15,000 shares of company stock valued at $58,232 and sold 97,357 shares valued at $574,666. 28.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Sight Sciences by 317.4% during the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after buying an additional 38,248 shares during the period. Geode Capital Management LLC boosted its position in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares during the last quarter. State Street Corp grew its stake in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Sight Sciences by 46.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 65,767 shares during the last quarter. Finally, Millrace Asset Group Inc. acquired a new position in Sight Sciences in the third quarter valued at about $874,000. 55.51% of the stock is owned by institutional investors.

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.