Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells 12,569 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 12,569 shares of Sight Sciences 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 owns 5,738,160 shares in the company, valued at approximately $36,838,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sight Sciences Stock Up 0.5 %

Shares of NASDAQ:SGHT traded up $0.03 during trading on Wednesday, reaching $6.19. 76,060 shares of the stock were exchanged, compared to its average volume of 200,831. 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, Inc. has a 1-year low of $1.04 and a 1-year high of $9.31. The stock has a fifty day moving average of $6.07 and a two-hundred day moving average of $5.26. The firm has a market cap of $307.99 million, a price-to-earnings ratio of -5.53 and a beta of 2.75.

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

Analyst Upgrades and Downgrades

SGHT has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, May 3rd. Piper Sandler reissued a “neutral” rating and issued a $6.00 price target (up from $5.00) on shares of Sight Sciences in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.70.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in Sight Sciences by 180.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after buying an additional 7,764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Sight Sciences by 51.9% in 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. State Board of Administration of Florida Retirement System bought a new position in Sight Sciences in the 1st quarter valued at $59,000. Federated Hermes Inc. grew its stake in Sight Sciences by 100.0% in the 3rd quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock valued at $202,000 after purchasing an additional 30,000 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in Sight Sciences by 198.1% in the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after purchasing an additional 39,333 shares during the period. Institutional investors own 55.51% of the company’s stock.

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.