Insider Buying: Sight Sciences, Inc. (NASDAQ:SGHT) EVP Buys $27,300.00 in Stock

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

Sight Sciences Stock Performance

NASDAQ SGHT opened at $2.72 on Friday. Sight Sciences, Inc. has a 52-week low of $2.17 and a 52-week high of $8.45. The company has a 50-day simple moving average of $2.80 and a 200 day simple moving average of $4.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The company has a market capitalization of $139.63 million, a PE ratio of -2.67 and a beta of 2.52.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on SGHT shares. Lake Street Capital cut their target price 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. Citigroup dropped their target price on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Stifel Nicolaus dropped their target price on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Piper Sandler decreased their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, UBS Group decreased their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.83.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently bought and sold shares of SGHT. ProShare Advisors LLC bought a new stake in shares of Sight Sciences in the 4th quarter worth approximately $36,000. Dynamic Technology Lab Private Ltd purchased a new position in Sight Sciences during the 4th quarter valued at $40,000. Arkadios Wealth Advisors purchased a new stake in shares of Sight Sciences in the 4th quarter worth about $47,000. WealthTrust Asset Management LLC purchased a new stake in shares of Sight Sciences in the 4th quarter worth about $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Sight Sciences in the 4th quarter worth about $50,000. 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.