UBS Group Cuts Sight Sciences (NASDAQ:SGHT) Price Target to $5.00

Sight Sciences (NASDAQ:SGHT) had its target price trimmed by UBS Group from $5.50 to $5.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on SGHT. Morgan Stanley dropped their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th. Piper Sandler reissued a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Citigroup cut their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, Lake Street Capital decreased their target price on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.62.

Sight Sciences Trading Down 2.6 %

SGHT opened at $3.05 on Monday. The stock has a 50-day moving average of $3.49 and a 200 day moving average of $5.20. 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 has a 12 month low of $2.67 and a 12 month high of $8.45. The firm has a market cap of $154.82 million, a P/E ratio of -2.99 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, research analysts forecast that Sight Sciences will post -1.01 EPS for the current year.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 15,000 shares of company stock valued at $58,232 and have sold 63,014 shares valued at $197,295. Corporate insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in Sight Sciences by 47.6% during the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after buying an additional 5,681 shares during the period. American Century Companies Inc. lifted its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after purchasing an additional 8,527 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in Sight Sciences in the fourth quarter worth about $47,000. 55.51% of the stock is currently owned by institutional investors.

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.