Jeremy B. Hayden Sells 4,878 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 4,878 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the transaction, the insider now owns 158,687 shares of the company’s stock, valued at $964,816.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sight Sciences Stock Down 2.9 %

Shares of NASDAQ SGHT traded down $0.18 on Thursday, hitting $6.00. The company had a trading volume of 149,380 shares, compared to its average volume of 197,109. Sight Sciences, Inc. has a 12-month low of $1.04 and a 12-month high of $8.45. The business has a 50 day moving average of $6.54 and a two-hundred day moving average of $6.23. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $298.54 million, a P/E ratio of -5.36 and a beta of 2.71.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, August 1st. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.06. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. The company had revenue of $21.37 million during the quarter, compared to the consensus estimate of $21.32 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. As a group, equities research analysts forecast that Sight Sciences, Inc. will post -1 earnings per share for the current fiscal year.

Analyst Ratings Changes

SGHT has been the subject of several analyst reports. Lake Street Capital initiated coverage on Sight Sciences in a research note on Wednesday, August 21st. They issued a “buy” rating and a $10.00 target price for the company. Citigroup upped their target price on Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Finally, 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 report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Sight Sciences currently has a consensus rating of “Hold” and an average price target of $7.25.

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Steele Capital Management Inc. purchased a new position in Sight Sciences in the second quarter valued at about $67,000. State Board of Administration of Florida Retirement System purchased a new position in Sight Sciences in the first quarter valued at about $59,000. SG Americas Securities LLC purchased a new position in Sight Sciences in the third quarter valued at about $75,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences in the second quarter valued at about $95,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sight Sciences by 51.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after purchasing an additional 9,106 shares during the last quarter. Hedge funds and other institutional investors 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.