Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CTO Sells 3,111 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 3,111 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $3.52, for a total transaction of $10,950.72. Following the completion of the sale, the chief technology officer now directly owns 1,753,370 shares of the company’s stock, valued at $6,171,862.40. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sight Sciences Stock Up 0.3 %

Sight Sciences stock opened at $3.32 on Thursday. Sight Sciences, Inc. has a twelve month low of $3.20 and a twelve month high of $8.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The firm has a market cap of $168.51 million, a PE ratio of -3.25 and a beta of 2.57. The firm’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $5.56.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results 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. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. On average, research analysts predict that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on SGHT. UBS Group started coverage on shares of Sight Sciences in a research note on Friday, December 6th. They set a “buy” rating and a $5.50 target price for the company. Piper Sandler reissued a “neutral” rating and issued a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Morgan Stanley decreased their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Lake Street Capital downgraded shares of Sight Sciences from a “buy” rating to a “hold” rating and cut their target price for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Finally, Citigroup decreased their target price on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Sight Sciences currently has a consensus rating of “Hold” and an average target price of $5.12.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHT. Long Focus Capital Management LLC increased its holdings in Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after buying an additional 260,594 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Sight Sciences during the 2nd quarter worth $1,234,000. Millrace Asset Group Inc. acquired a new position in shares of Sight Sciences during the 3rd quarter worth $874,000. State Street Corp raised its holdings in shares of Sight Sciences by 17.4% during the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 65,767 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other 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.