Sight Sciences (NASDAQ:SGHT) CFO Sells $36,994.72 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CFO James Rodberg sold 6,902 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the completion of the transaction, the chief financial officer owned 224,037 shares in the company, valued at $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.35 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48. The company has a market cap of $291.09 million, a price-to-earnings ratio of -7.54 and a beta of 2.38. Sight Sciences, Inc. has a 1 year low of $3.11 and a 1 year high of $9.24. The firm has a fifty day moving average price of $4.99 and a 200-day moving average price of $5.27.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The company had revenue of $19.70 million for the quarter, compared to analysts’ expectations of $18.46 million. As a group, equities analysts predict that Sight Sciences, Inc. will post -0.6 earnings per share for the current year.

Sight Sciences News Summary

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares at an average price of $5.42, the largest disclosed insider transaction and the clearest negative signal for sentiment. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to concerns because sales came from another key member of management. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi sold 7,418 shares and insider Jeremy B. Hayden sold 12,733 shares, reinforcing the pattern of insider selling across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock
• Negative Sentiment: EVP Brenton Taylor also sold 2,829 shares, extending the insider-selling trend and likely weighing on the stock. Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently made changes to their positions in the business. Americana Partners LLC grew its position in shares of Sight Sciences by 12.1% during the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after purchasing an additional 149,161 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in Sight Sciences during the 4th quarter valued at approximately $294,000. Long Focus Capital Management LLC lifted its holdings in Sight Sciences by 1.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after purchasing an additional 41,797 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Sight Sciences in the 4th quarter worth approximately $81,000. Finally, XTX Topco Ltd bought a new position in Sight Sciences in the 2nd quarter worth approximately $67,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SGHT. Citigroup boosted their price objective on Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings downgraded shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.25.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.