Insider Selling: Sight Sciences (NASDAQ:SGHT) EVP Sells $26,443.80 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Brenton Taylor sold 2,988 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the sale, the executive vice president owned 261,990 shares in the company, valued at $2,318,611.50. The trade was a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sight Sciences Stock Down 1.1%

Shares of NASDAQ:SGHT opened at $8.47 on Thursday. The stock has a fifty day simple moving average of $8.06 and a two-hundred day simple moving average of $5.87. The stock has a market capitalization of $466.61 million, a price-to-earnings ratio of -15.12 and a beta of 2.45. Sight Sciences, Inc. has a 12-month low of $3.19 and a 12-month high of $9.71. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%.The firm had revenue of $23.39 million for the quarter, compared to analysts’ expectations of $21.72 million. On average, research analysts anticipate that Sight Sciences, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors have recently modified their holdings of SGHT. Hsbc Holdings PLC increased its holdings in Sight Sciences by 21.6% in the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock worth $255,000 after buying an additional 8,297 shares in the last quarter. Bank of America Corp DE bought a new position in Sight Sciences during the 2nd quarter valued at about $520,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sight Sciences during the 2nd quarter valued at about $299,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Sight Sciences during the 2nd quarter valued at about $60,000. Finally, Algert Global LLC grew its stake in shares of Sight Sciences by 25.3% in the second quarter. Algert Global LLC now owns 28,266 shares of the company’s stock worth $153,000 after acquiring an additional 5,706 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group increased their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup increased their price target on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.38.

About Sight Sciences

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.