Paul Badawi Sells 12,569 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,569 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $6.42, for a total value of $80,692.98. Following the completion of the transaction, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at approximately $36,838,987.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sight Sciences Price Performance

Shares of SGHT opened at $6.19 on Thursday. Sight Sciences, Inc. has a 12 month low of $1.04 and a 12 month high of $9.31. The stock’s 50 day moving average is $6.07 and its two-hundred day moving average is $5.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 13.01 and a quick ratio of 12.42.

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

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System acquired a new stake in Sight Sciences in the 1st quarter worth about $59,000. Tower Research Capital LLC TRC lifted its position in shares of Sight Sciences by 180.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock valued at $62,000 after acquiring an additional 7,764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 acquiring an additional 9,106 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Sight Sciences by 100.0% in the third quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock worth $202,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Sight Sciences by 198.1% during the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after purchasing an additional 39,333 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SGHT. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $6.00 price objective (up previously from $5.00) on shares of Sight Sciences in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Sight Sciences currently has a consensus rating of “Hold” and a consensus target price 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.