Insider Buying: Sight Sciences, Inc. (NASDAQ:SGHT) EVP Acquires $18,449.76 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja bought 4,624 shares of the company’s stock in a transaction on Friday, November 29th. The stock was bought at an average cost of $3.99 per share, for a total transaction of $18,449.76. Following the completion of the acquisition, the executive vice president now directly owns 102,624 shares of the company’s stock, valued at approximately $409,469.76. This represents a 4.72 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sight Sciences Stock Down 1.6 %

Sight Sciences stock opened at $3.70 on Friday. The stock has a fifty day moving average of $4.98 and a 200 day moving average of $6.04. Sight Sciences, Inc. has a one year low of $2.58 and a one year high of $8.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock has a market cap of $187.79 million, a PE ratio of -3.63 and a beta of 2.58.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, sell-side analysts predict that Sight Sciences, Inc. will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SGHT. Steele Capital Management Inc. purchased a new position in Sight Sciences in the 2nd quarter worth approximately $67,000. SG Americas Securities LLC bought a new stake in shares of Sight Sciences in the 3rd quarter worth about $75,000. The Manufacturers Life Insurance Company bought a new stake in shares of Sight Sciences in the 2nd quarter valued at approximately $95,000. GSA Capital Partners LLP bought a new stake in Sight Sciences in the third quarter worth $136,000. Finally, American Century Companies Inc. raised its position in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after purchasing an additional 8,527 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Lake Street Capital cut shares of 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 research note on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Morgan Stanley dropped their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.50.

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.