Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells $72,471.48 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the completion of the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Paul Badawi also recently made the following trade(s):

• On Thursday, January 2nd, Paul Badawi sold 12,236 shares of Sight Sciences stock. The shares were sold at an average price of $3.60, for a total value of $44,049.60.

Sight Sciences Trading Up 2.8 %

SGHT opened at $2.96 on Friday. The firm has a market capitalization of $150.23 million, a price-to-earnings ratio of -2.90 and a beta of 2.57. The company’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $5.32. Sight Sciences, Inc. has a 1-year low of $2.67 and a 1-year high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly 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. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Analysts expect that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SGHT. UBS Group started coverage on Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th. Lake Street Capital decreased their price target on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Morgan Stanley cut their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Piper Sandler restated a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.72.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. KCK LTD. purchased a new stake in Sight Sciences in the fourth quarter valued at $15,925,000. Long Focus Capital Management LLC raised its holdings in Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after buying an additional 260,594 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Sight Sciences in the second quarter valued at about $1,234,000. Millrace Asset Group Inc. purchased a new position in Sight Sciences during the third quarter worth about $874,000. Finally, State Street Corp increased its position in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after acquiring an additional 95,843 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.