Sight Sciences (NASDAQ:SGHT) Stock: Insider David Badawi Sells 7,797 Shares

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 7,797 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total value of $70,562.85. Following the sale, the chief technology officer owned 1,975,075 shares of the company’s stock, valued at $17,874,428.75. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sight Sciences Stock Performance

NASDAQ:SGHT traded up $0.39 during midday trading on Monday, reaching $8.92. The stock had a trading volume of 564,937 shares, compared to its average volume of 271,241. The firm has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $5.76. Sight Sciences, Inc. has a 12-month low of $3.19 and a 12-month high of $9.71. The company has a quick ratio of 4.67, a current ratio of 4.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $491.40 million, a P/E ratio of -15.93 and a beta of 2.45.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data 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 net margin of 35.69% and a negative return on equity of 43.39%. The company had revenue of $23.39 million during the quarter, compared to the consensus estimate of $21.72 million. On average, equities analysts expect that Sight Sciences, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SGHT. BlackRock Inc. purchased a new position in Sight Sciences during the 2nd quarter valued at about $16,710,000. GSA Capital Partners LLP purchased a new stake in shares of Sight Sciences in the second quarter valued at about $908,000. Bank of America Corp DE acquired a new stake in shares of Sight Sciences in the second quarter valued at approximately $520,000. Bank of New York Mellon Corp acquired a new stake in shares of Sight Sciences in the second quarter valued at approximately $495,000. Finally, SCS Capital Management LLC purchased a new position in shares of Sight Sciences during the 2nd quarter worth approximately $488,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reissued a “neutral” rating on shares of Sight Sciences in a research note on Monday. UBS Group raised their price target on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sight Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $7.88.

Sight Sciences Company Profile

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.