Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells 12,236 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,236 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sight Sciences Stock Down 2.6 %

NASDAQ SGHT opened at $3.40 on Tuesday. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $8.45. The business has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $5.60. The stock has a market cap of $172.57 million, a PE ratio of -3.33 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. As a group, sell-side analysts predict that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SGHT has been the topic of a number of research analyst reports. UBS Group began coverage on shares of Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target on the stock. Morgan Stanley dropped their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Citigroup reduced their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.12.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently bought and sold shares of SGHT. American Century Companies Inc. boosted its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Sight Sciences by 5.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after acquiring an additional 10,000 shares during the last quarter. Rhumbline Advisers boosted its stake in Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after acquiring an additional 11,671 shares during the last quarter. SG Americas Securities LLC acquired a new position in Sight Sciences during the 3rd quarter worth $75,000. Finally, Geode Capital Management LLC increased its position in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares during 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.