Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells $44,049.60 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,236 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total value of $44,049.60. Following the completion of the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at $20,567,509.20. This represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sight Sciences Trading Up 0.3 %

Shares of Sight Sciences stock opened at $3.32 on Thursday. 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 firm has a market cap of $168.51 million, a price-to-earnings ratio of -3.25 and a beta of 2.57. Sight Sciences, Inc. has a 52-week low of $3.20 and a 52-week high of $8.45. The company’s 50-day simple moving average is $3.89 and its 200-day simple moving average is $5.56.

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

Analyst Ratings Changes

A number of analysts recently weighed in on SGHT shares. Piper Sandler restated a “neutral” rating and set a $5.50 target price (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley lowered their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. UBS Group assumed coverage on shares of Sight Sciences in a research note on Friday, December 6th. They issued a “buy” rating and a $5.50 price objective for the company. Finally, Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.00 to $5.00 in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.12.

Institutional Investors Weigh In On Sight Sciences

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