Sight Sciences (NASDAQ:SGHT) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a research report released on Friday morning, Benzinga reports.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT traded up $0.35 during trading hours on Friday, reaching $5.96. The stock had a trading volume of 92,267 shares, compared to its average volume of 171,268. The company has a market cap of $295.32 million, a price-to-earnings ratio of -5.32 and a beta of 2.73. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $11.00. The business’s fifty day moving average is $5.11 and its two-hundred day moving average is $4.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 13.29 and a quick ratio of 12.65.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. The company had revenue of $18.75 million during the quarter, compared to analysts’ expectations of $18.70 million. Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 42.84%. During the same quarter in the prior year, the company posted ($0.35) EPS. As a group, research analysts expect that Sight Sciences will post -1.04 EPS for the current year.

Insider Activity at Sight Sciences

In other Sight Sciences news, CFO Alison Bauerlein sold 10,123 shares of Sight Sciences stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the completion of the transaction, the chief financial officer now directly owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Alison Bauerlein sold 10,123 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the sale, the chief financial officer now directly owns 426,248 shares in the company, valued at approximately $2,165,339.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $63,860.68. Following the completion of the sale, the chief executive officer now owns 5,750,729 shares of the company’s stock, valued at $29,213,703.32. The disclosure for this sale can be found here. Insiders have sold a total of 34,129 shares of company stock valued at $173,375 in the last 90 days. 27.10% of the stock is owned by corporate insiders.

Institutional Trading of Sight Sciences

Hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its holdings in Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after buying an additional 2,881,750 shares in the last quarter. Jackson Square Partners LLC increased its position in Sight Sciences by 12.0% in the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after purchasing an additional 174,737 shares during the period. First Eagle Investment Management LLC lifted its position in Sight Sciences by 45.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 587,297 shares of the company’s stock valued at $1,979,000 after purchasing an additional 183,912 shares during the period. Boston Partners lifted its holdings in Sight Sciences by 3.1% in the third quarter. Boston Partners now owns 331,776 shares of the company’s stock valued at $1,117,000 after buying an additional 9,919 shares during the period. Finally, RTW Investments LP bought a new position in shares of Sight Sciences in the 4th quarter worth $850,000. 55.51% of the stock is owned by institutional investors.

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.