Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $5.00 at Morgan Stanley

Sight Sciences (NASDAQ:SGHT - Free Report) had its target price lowered by Morgan Stanley from $7.00 to $5.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on SGHT. Piper Sandler reaffirmed a "neutral" rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a research report on Friday. Lake Street Capital lowered shares of Sight Sciences from a "buy" rating to a "hold" rating and cut their price target for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research note on Friday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.50.

Sight Sciences Trading Up 8.5 %

NASDAQ SGHT traded up $0.36 on Monday, reaching $4.59. The stock had a trading volume of 271,936 shares, compared to its average volume of 198,954. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. Sight Sciences has a 12-month low of $1.70 and a 12-month high of $8.45. The firm has a market capitalization of $230.91 million, a price-to-earnings ratio of -4.15 and a beta of 2.74. The stock has a fifty day moving average price of $5.93 and a two-hundred day moving average price of $6.25.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 45.63% and a negative net margin of 63.30%. As a group, sell-side analysts forecast that Sight Sciences will post -1 EPS for the current fiscal year.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were 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 $34,295,343.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the sale, the insider now directly owns 158,687 shares of the company's stock, valued at approximately $964,816.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Badawi sold 12,727 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares of the company's stock, valued at $34,295,343.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,357 shares of company stock worth $574,666 over the last ninety days. Corporate insiders own 28.90% of the company's stock.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System purchased a new position in shares of Sight Sciences in the first quarter valued at $59,000. Steele Capital Management Inc. acquired a new stake in shares of Sight Sciences in the 2nd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in shares of Sight Sciences during the third quarter valued at about $75,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences in the second quarter valued at $95,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Sight Sciences during the third quarter valued at approximately $136,000. 55.51% of the stock is owned by institutional investors and hedge funds.

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.