Needham & Company LLC Reaffirms Hold Rating for Sight Sciences (NASDAQ:SGHT)

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

Sight Sciences Trading Up 6.2 %

NASDAQ:SGHT traded up $0.35 during trading hours on Friday, hitting $5.96. 92,267 shares of the company were exchanged, compared to its average volume of 171,268. The stock has a market capitalization of $295.32 million, a price-to-earnings ratio of -5.32 and a beta of 2.73. Sight Sciences has a one year low of $1.04 and a one year high of $11.00. The company has a fifty day simple moving average of $5.11 and a 200 day simple moving average of $4.19. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently made changes to their positions in the stock. UBS Group AG grew its stake in shares of Sight Sciences by 20,282.6% in the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock valued at $14,943,000 after buying an additional 2,881,750 shares during the period. First Eagle Investment Management LLC grew its stake in Sight Sciences by 45.6% in the third quarter. First Eagle Investment Management LLC now owns 587,297 shares of the company’s stock valued at $1,979,000 after acquiring an additional 183,912 shares during the period. Jackson Square Partners LLC grew its stake 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 valued at $8,409,000 after acquiring an additional 174,737 shares during the period. RTW Investments LP acquired a new position in shares of Sight Sciences during the fourth quarter worth approximately $850,000. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Sight Sciences by 198.1% in the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after purchasing an additional 39,333 shares in the last quarter. 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.