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 dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sight Sciences Price Performance

Sight Sciences stock opened at $5.81 on Friday. The company has a market cap of $292.30 million, a P/E ratio of -5.19 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. The business has a fifty day moving average of $6.46 and a two-hundred day moving average of $6.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01.

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

Hedge Funds Weigh In On Sight Sciences

Several hedge funds have recently bought and sold shares of SGHT. American Century Companies Inc. raised its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after buying an additional 8,527 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 acquiring an additional 9,106 shares in the last quarter. Steele Capital Management Inc. acquired a new position in Sight Sciences during the second quarter worth about $67,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sight Sciences in the first quarter valued at about $59,000. Finally, Rhumbline Advisers grew its position in shares of 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 purchasing an additional 11,671 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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