Manohar K. Raheja Buys 4,624 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja acquired 4,624 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of $3.99 per share, for a total transaction of $18,449.76. Following the completion of the acquisition, the executive vice president now owns 102,624 shares in the company, valued at $409,469.76. This represents a 4.72 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sight Sciences Price Performance

Shares of SGHT stock opened at $3.76 on Thursday. Sight Sciences, Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $8.45. The business’s 50 day moving average price is $5.03 and its 200-day moving average price is $6.06. 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 (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. On average, sell-side analysts forecast that Sight Sciences, Inc. will post -1.03 EPS for the current year.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently made changes to their positions in SGHT. Barclays PLC raised its stake in Sight Sciences by 317.4% during the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after buying an additional 38,248 shares during the last quarter. Geode Capital Management LLC raised its stake in Sight Sciences by 1.6% during the third 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 last quarter. State Street Corp raised its stake in Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after buying an additional 95,843 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Sight Sciences by 46.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after buying an additional 65,767 shares during the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in Sight Sciences during the third quarter valued at $874,000. 55.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $5.00 in a research note on Monday, November 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.50.

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.