Paul Badawi Sells 12,236 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. This represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sight Sciences Stock Down 2.6 %

SGHT stock opened at $3.31 on Wednesday. The stock has a market cap of $168.00 million, a P/E ratio of -3.25 and a beta of 2.57. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $3.93 and its two-hundred day simple moving average is $5.58. Sight Sciences, Inc. has a 1-year low of $3.29 and a 1-year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Analysts expect that Sight Sciences, Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SGHT. Long Focus Capital Management LLC raised its holdings in shares of Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Sight Sciences in the second quarter valued at $1,234,000. Millrace Asset Group Inc. purchased a new position in shares of Sight Sciences during the 3rd quarter valued at $874,000. State Street Corp grew its stake in shares of Sight Sciences by 17.4% during the 3rd 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. increased its holdings in Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after acquiring an additional 65,767 shares during the last quarter. 55.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.