Piper Sandler Issues Positive Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target upped by analysts at Piper Sandler from $4.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock.

Several other equities analysts have also recently issued reports on SGHT. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Lake Street Capital upped their price objective on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Morgan Stanley boosted their target price on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Citigroup reduced their price objective on shares of Sight Sciences from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sight Sciences in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.83.

Sight Sciences Stock Performance

NASDAQ:SGHT opened at $5.00 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. The firm has a market cap of $261.85 million, a price-to-earnings ratio of -5.21 and a beta of 2.47. The firm’s fifty day moving average price is $3.99 and its 200 day moving average price is $3.80. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $5.32.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, September 8th. The company reported ($0.81) EPS for the quarter. The firm had revenue of $12.54 million during the quarter. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. On average, sell-side analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In related news, CEO Paul Badawi sold 24,441 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total value of $81,632.94. Following the completion of the sale, the chief executive officer directly owned 5,962,502 shares in the company, valued at approximately $19,914,756.68. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeremy B. Hayden sold 9,731 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $3.27, for a total transaction of $31,820.37. Following the transaction, the insider directly owned 256,590 shares in the company, valued at approximately $839,049.30. This represents a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,796 shares of company stock worth $135,173 in the last 90 days. Insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after purchasing an additional 3,137 shares during the period. Tower Research Capital LLC TRC grew its stake in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after buying an additional 2,875 shares during the period. Bank of Montreal Can acquired a new stake in shares of Sight Sciences in the second quarter worth $49,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Sight Sciences by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock valued at $66,000 after acquiring an additional 4,453 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Sight Sciences in the 2nd quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.