Sight Sciences (NASDAQ:SGHT) shares a 5% drop

Vision Sciences, Inc. (NASDAQ:SGHTGet a rating) fell 5% during Friday’s midday session. The stock traded as low as $10.54 and last traded at $10.84. 7,750 shares were traded at midday, down 97% from the average session volume of 233,435 shares. The stock previously closed at $11.41.

Several brokerages have recently released reports on SGHT. Citigroup reduced its price target on Sight Sciences shares from $39.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, March 25. Piper Sandler cut her price target on Sight Sciences shares from $23.00 to $17.00 in a Wednesday, May 11 research report. Five research analysts rated the stock with a buy rating. According to, the company currently has an average rating of “Buy” and a consensus target price of $31.00.

The company has a market cap of $483.04 million and a price-earnings ratio of -3.28. The company’s 50-day moving average is $8.77 and its two-hundred-day moving average is $12.33. The company has a debt ratio of 0.15, a quick ratio of 20.94 and a current ratio of 21.28.

Vision science (NASDAQ:SGHTGet a rating) last announced its results on Tuesday, May 10. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.08). The company posted revenue of $14.88 million for the quarter, versus analyst estimates of $13.60 million. Sight Sciences posted a negative return on equity of 51.67% and a negative net margin of 134.02%. Analysts expect Sight Sciences, Inc. to post EPS of -1.85 for the current year.

In related news, the director Staffan Encrantz bought 300,000 shares of the company in a transaction on Monday, May 16. The shares were purchased at an average cost of $8.20 per share, for a total transaction of $2,460,000.00. Following the acquisition, the director now owns 301,802 shares of the company, valued at approximately $2,474,776.40. The purchase was disclosed in an SEC filing, available at this link.

A number of hedge funds have recently changed their positions in the business. Balyasny Asset Management LLC acquired a new stake in shares of Sight Sciences in the third quarter worth approximately $2,608,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Sight Sciences in the third quarter valued at approximately $1,875,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sight Sciences in the fourth quarter worth approximately $308,000. The New York State Common Retirement Fund acquired a new stake in shares of Sight Sciences in the fourth quarter, valued at approximately $125,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new equity stake in Sight Sciences in the fourth quarter valued at approximately $956,000. Hedge funds and other institutional investors own 60.76% of the company’s shares.

Vision Science Company Profile (NASDAQ:SGHT)

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and non-surgical technologies for the treatment of eye disease. The Company’s products include OMNI Surgical System, a therapeutic device used by eye surgeons to reduce intraocular pressure in adult patients with glaucoma; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.

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