Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi Sells 3,111 Shares

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 3,111 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $3.52, for a total transaction of $10,950.72. Following the sale, the chief technology officer now owns 1,753,370 shares of the company’s stock, valued at approximately $6,171,862.40. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Sight Sciences Trading Down 2.6 %

Shares of NASDAQ:SGHT opened at $3.40 on Tuesday. The business’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $5.60. Sight Sciences, Inc. has a 1 year low of $3.30 and a 1 year high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The company has a market capitalization of $172.57 million, a P/E ratio of -3.33 and a beta of 2.57.

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

Institutional Investors Weigh In On Sight Sciences

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Sight Sciences by 70.5% during the second quarter. Bank of New York Mellon Corp now owns 102,461 shares of the company’s stock valued at $683,000 after purchasing an additional 42,383 shares in the last quarter. Rhumbline Advisers boosted its stake in Sight Sciences by 40.1% in the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after buying an additional 11,671 shares in the last quarter. Acadian Asset Management LLC grew its position in Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock valued at $556,000 after acquiring an additional 60,220 shares during the last quarter. American Century Companies Inc. raised its stake in Sight Sciences by 31.1% during the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Sight Sciences in the second quarter worth about $95,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SGHT. UBS Group began coverage on shares of Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target on the stock. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Citigroup reduced their price target on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley lowered their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.