Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CTO Sells 3,829 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 3,829 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $3.26, for a total value of $12,482.54. Following the completion of the transaction, the chief technology officer now owns 1,749,541 shares of the company’s stock, valued at $5,703,503.66. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

David Badawi also recently made the following trade(s):

• On Friday, January 3rd, David Badawi sold 3,111 shares of Sight Sciences stock. The shares were sold at an average price of $3.52, for a total transaction of $10,950.72.

Sight Sciences Stock Performance

SGHT stock opened at $3.32 on Friday. The stock has a market capitalization of $168.51 million, a PE ratio of -3.25 and a beta of 2.57. The stock’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $5.54. Sight Sciences, Inc. has a 12-month low of $3.20 and a 12-month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, research analysts forecast that Sight Sciences, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Long Focus Capital Management LLC boosted its stake in Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after buying an additional 260,594 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Sight Sciences in the 2nd quarter worth about $1,234,000. Millrace Asset Group Inc. bought a new position in Sight Sciences in the 3rd quarter worth about $874,000. State Street Corp increased its position in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after acquiring an additional 95,843 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Sight Sciences by 46.3% in the third 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 period. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SGHT shares. Citigroup decreased their target price on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $5.50 target price (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. UBS Group started coverage on Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Sight Sciences has an average rating of “Hold” and an average target price of $5.12.

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.