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 firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the completion of the sale, the chief executive officer now owns 5,713,197 shares in the company, valued at $20,567,509.20. This represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Sight Sciences Price Performance

Sight Sciences stock traded down $0.09 during mid-day trading on Monday, hitting $3.40. The stock had a trading volume of 235,749 shares, compared to its average volume of 240,716. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $3.97 and its 200 day moving average is $5.60. The firm has a market capitalization of $172.57 million, a P/E ratio of -3.33 and a beta of 2.57. Sight Sciences, Inc. has a one year low of $3.30 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million during 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, sell-side analysts forecast that Sight Sciences, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in SGHT. Geode Capital Management LLC lifted its holdings in shares of Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after buying an additional 12,709 shares in the last quarter. State Street Corp lifted its stake in Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares in the last quarter. Long Focus Capital Management LLC boosted its holdings in shares of Sight Sciences by 86.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after purchasing an additional 260,594 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Sight Sciences by 46.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 65,767 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after purchasing an additional 10,000 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SGHT has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. 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 note on Wednesday, December 11th. Morgan Stanley lowered their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.00 to $5.00 in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.12.

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.