Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $3.00 at Lake Street Capital

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its target price decreased by Lake Street Capital from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Lake Street Capital's target price would suggest a potential downside of 3.54% from the company's current price.

Other equities analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of Sight Sciences from $5.80 to $4.60 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Tuesday. UBS Group assumed coverage on Sight Sciences in a research note on Friday, December 6th. They issued a "buy" rating and a $5.50 target price on the stock. Piper Sandler reiterated a "neutral" rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Morgan Stanley cut their price target on Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $4.72.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT traded down $0.04 during trading on Wednesday, hitting $3.11. 110,752 shares of the stock were exchanged, compared to its average volume of 211,528. The company has a market cap of $157.85 million, a PE ratio of -3.05 and a beta of 2.57. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $3.76 and a two-hundred day moving average price of $5.47. Sight Sciences has a 12-month low of $3.10 and a 12-month high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. The company 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%. On average, analysts forecast that Sight Sciences will post -1.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now directly owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Link sold 20,487 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.98, for a total value of $122,512.26. Following the completion of the sale, the insider now directly owns 685,381 shares in the company, valued at approximately $4,098,578.38. The trade was a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 15,000 shares of company stock worth $58,232 and have sold 68,168 shares worth $335,489. 28.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its holdings in Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company's stock valued at $317,000 after purchasing an additional 38,248 shares during the period. Geode Capital Management LLC grew its stake in shares of Sight Sciences by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company's stock valued at $4,941,000 after buying an additional 12,709 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of Sight Sciences during the 3rd quarter valued at $874,000. State Street Corp increased its holdings in shares of Sight Sciences by 17.4% during the 3rd quarter. State Street Corp now owns 646,776 shares of the company's stock worth $4,075,000 after buying an additional 95,843 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Sight Sciences by 256.6% in the 2nd quarter. Acadian Asset Management LLC now owns 83,693 shares of the company's stock worth $556,000 after buying an additional 60,220 shares during the period. Institutional investors and hedge funds own 55.51% of the company's stock.

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.