Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CTO Sells 3,167 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 3,167 shares of Sight Sciences stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $18,970.33. Following the sale, the chief technology officer now directly owns 1,756,481 shares of the company’s stock, valued at $10,521,321.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sight Sciences Trading Down 2.9 %

SGHT stock traded down $0.18 during midday 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 stock’s fifty day moving average price is $6.54 and its 200-day moving average price is $6.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01. The company has a market cap of $298.54 million, a PE ratio of -5.36 and a beta of 2.71. Sight Sciences, Inc. has a one year low of $1.04 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued 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 for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.30) earnings per share. Research analysts predict that Sight Sciences, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Sight Sciences

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Sight Sciences in the third quarter valued at about $75,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Sight Sciences in the second quarter valued at about $1,234,000. Long Focus Capital Management LLC increased its position in shares of Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after acquiring an additional 260,594 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences in the second quarter valued at about $95,000. Finally, American Century Companies Inc. increased its position in shares of Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after acquiring an additional 8,527 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.