Jeremy B. Hayden Sells 4,864 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 4,864 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 $17,121.28. Following the completion of the sale, the insider now directly owns 153,823 shares of the company’s stock, valued at $541,456.96. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sight Sciences Trading Down 2.6 %

SGHT opened at $3.40 on Tuesday. Sight Sciences, Inc. has a 52 week low of $3.30 and a 52 week high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $5.60. The firm has a market cap of $172.57 million, a P/E ratio of -3.33 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. On average, equities analysts expect that Sight Sciences, Inc. will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SGHT. Millrace Asset Group Inc. acquired a new stake in Sight Sciences during the 3rd quarter worth approximately $874,000. Barclays PLC grew its stake in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after acquiring an additional 38,248 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after acquiring an additional 12,709 shares during the period. State Street Corp raised its stake in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after acquiring an additional 95,843 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock valued at $556,000 after purchasing an additional 60,220 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analyst Ratings Changes

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

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.