Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells 12,727 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,727 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the transaction, the chief executive officer now directly owns 5,725,433 shares in the company, valued at $34,295,343.67. The sale was disclosed in a filing with the SEC, which is available through this link.

Sight Sciences Price Performance

NASDAQ SGHT traded down $0.18 during trading on Thursday, hitting $6.00. 149,380 shares of the company’s stock were exchanged, compared to its average volume of 197,109. The company has a market cap of $298.54 million, a PE ratio of -5.36 and a beta of 2.71. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33. Sight Sciences, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $8.45. The stock’s 50 day moving average price is $6.54 and its two-hundred day moving average price is $6.23.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $21.37 million during the quarter, compared to analysts’ expectations of $21.32 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. During the same period in the prior year, the company earned ($0.30) EPS. Research analysts expect that Sight Sciences, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Citigroup lifted their price target on shares of Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley boosted their price target on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Lake Street Capital initiated coverage on Sight Sciences in a research note on Wednesday, August 21st. They set a “buy” rating and a $10.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sight Sciences presently has a consensus rating of “Hold” and an average target price of $7.25.

Institutional Trading of Sight Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System bought a new position in Sight Sciences during the first quarter worth $59,000. Steele Capital Management Inc. bought a new position in shares of Sight Sciences in the 2nd quarter worth about $67,000. SG Americas Securities LLC acquired a new position in shares of Sight Sciences in the 3rd quarter valued at about $75,000. The Manufacturers Life Insurance Company bought a new stake in shares of Sight Sciences during the 2nd quarter valued at about $95,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.