Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CTO Sells 3,128 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 3,128 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $20,081.76. Following the transaction, the chief technology officer now owns 1,759,648 shares in the company, valued at $11,296,940.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT traded up $0.03 during midday trading on Wednesday, hitting $6.19. The company’s stock had a trading volume of 76,060 shares, compared to its average volume of 200,831. The stock has a fifty day moving average price of $6.07 and a 200 day moving average price of $5.26. Sight Sciences, Inc. has a one year low of $1.04 and a one year high of $9.31. The company has a current ratio of 13.01, a quick ratio of 12.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $307.99 million, a price-to-earnings ratio of -5.53 and a beta of 2.75.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 44.45%. The business had revenue of $19.27 million during the quarter, compared to the consensus estimate of $18.34 million. On average, research analysts forecast that Sight Sciences, Inc. will post -1.13 EPS for the current fiscal year.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after acquiring an additional 2,881,750 shares during the period. Jackson Square Partners LLC grew its stake in Sight Sciences by 12.0% in the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after buying an additional 174,737 shares in the last quarter. Vanguard Group Inc. grew its stake in Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Sight Sciences by 25.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock worth $1,991,000 after buying an additional 76,549 shares in the last quarter. Finally, RTW Investments LP purchased a new position in Sight Sciences in the 4th quarter worth approximately $850,000. Institutional investors own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.70.

Sight Sciences Company Profile

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.