Sight Sciences (NASDAQ:SGHT) CTO David Badawi Sells 7,418 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 7,418 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the sale, the chief technology officer owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sight Sciences Stock Down 0.4%

NASDAQ:SGHT opened at $5.43 on Tuesday. The stock has a 50-day simple moving average of $4.95 and a 200 day simple moving average of $5.31. Sight Sciences, Inc. has a 52-week low of $3.11 and a 52-week high of $9.24. The company has a market cap of $295.23 million, a PE ratio of -7.65 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The firm had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.46 million. On average, sell-side analysts expect that Sight Sciences, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SGHT has been the subject of several recent research reports. Weiss Ratings cut shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Citigroup boosted their price target on shares of Sight Sciences from $4.35 to $5.15 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.14.

Sight Sciences News Roundup

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares, trimming his stake by about 0.47%, in the largest disclosed insider transaction. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, reducing his ownership by nearly 3%, adding to the selling pressure from senior leadership. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi sold 7,418 shares, while insider Jeremy B. Hayden sold 12,733 shares, reinforcing the pattern of insider reductions. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock
• Negative Sentiment: EVP Brenton Taylor also sold shares, continuing the broad pattern of insider selling across multiple executives. Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of Sight Sciences during the 1st quarter worth approximately $128,000. Strs Ohio bought a new position in shares of Sight Sciences in the first quarter valued at $158,000. Rhumbline Advisers increased its holdings in Sight Sciences by 9.5% during the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after buying an additional 4,319 shares during the last quarter. Geode Capital Management LLC increased its holdings in Sight Sciences by 5.5% during the second quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after buying an additional 43,791 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Sight Sciences during the second quarter worth $67,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.