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 firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $3.52, for a total value of $10,950.72. Following the transaction, the chief technology officer now directly owns 1,753,370 shares in the company, valued at approximately $6,171,862.40. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Sight Sciences Stock Down 2.6 %

Sight Sciences stock traded down $0.09 during mid-day trading on Monday, reaching $3.40. 235,749 shares of the company were exchanged, compared to its average volume of 240,716. 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 $172.57 million, a P/E ratio of -3.33 and a beta of 2.57. Sight Sciences, Inc. has a 12-month low of $3.30 and a 12-month high of $8.45. The business has a fifty day moving average of $3.97 and a 200 day moving average of $5.60.

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

Analysts Set New Price Targets

A number of research firms recently commented on SGHT. Morgan Stanley lowered 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 report on Monday, November 11th. Lake Street Capital downgraded shares of Sight Sciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.00 to $5.00 in a research note on Monday, November 4th. UBS Group began coverage on shares of Sight Sciences in a research note on Friday, December 6th. They set a “buy” rating and a $5.50 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Citigroup reduced their price objective 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 equities research 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.12.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently made changes to their positions in SGHT. SG Americas Securities LLC purchased a new position in Sight Sciences during the third quarter valued at $75,000. The Manufacturers Life Insurance Company purchased a new stake in Sight Sciences in the 2nd quarter valued at $95,000. GSA Capital Partners LLP acquired a new stake in Sight Sciences during the third quarter worth about $136,000. American Century Companies Inc. lifted its holdings in Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after acquiring an additional 8,527 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

About Sight Sciences

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.