Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells 12,727 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total transaction of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Sight Sciences Price Performance

NASDAQ:SGHT traded down $0.18 during midday trading on Thursday, hitting $6.00. The company had a trading volume of 149,380 shares, compared to its average volume of 197,109. The company has a market capitalization of $298.54 million, a PE ratio of -5.36 and a beta of 2.71. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. Sight Sciences, Inc. has a 52-week low of $1.04 and a 52-week high of $8.45. The stock’s fifty day moving average price is $6.54 and its 200-day moving average price is $6.23.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. The firm had revenue of $21.37 million for the quarter, compared to the consensus estimate of $21.32 million. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. During the same period last year, the firm posted ($0.30) earnings per share. As a group, research analysts expect that Sight Sciences, Inc. will post -1 earnings per share for the current year.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently modified their holdings of SGHT. State Board of Administration of Florida Retirement System bought a new stake in shares of Sight Sciences in the 1st quarter worth approximately $59,000. Steele Capital Management Inc. purchased a new stake in Sight Sciences in the second quarter worth $67,000. SG Americas Securities LLC purchased a new stake in Sight Sciences in the third quarter worth $75,000. The Manufacturers Life Insurance Company bought a new stake in Sight Sciences in the second quarter valued at $95,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Sight Sciences by 51.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after purchasing an additional 9,106 shares during the period. 55.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SGHT has been the subject of several recent research reports. Citigroup upped their price target on Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley upped their target price on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Finally, Lake Street Capital began coverage on shares of Sight Sciences in a report on Wednesday, August 21st. They set a “buy” rating and a $10.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and a consensus target price of $7.25.

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.