Insider Selling: Sight Sciences (NASDAQ:SGHT) CEO Sells $268,359.65 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 29,653 shares of Sight Sciences stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $268,359.65. Following the transaction, the chief executive officer directly owned 6,092,819 shares of the company’s stock, valued at $55,140,011.95. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sight Sciences Trading Down 1.1%

SGHT stock opened at $8.47 on Thursday. Sight Sciences, Inc. has a twelve month low of $3.19 and a twelve month high of $9.71. The stock has a market capitalization of $466.61 million, a price-to-earnings ratio of -15.12 and a beta of 2.45. 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 firm’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $5.87.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sight Sciences

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Sight Sciences during the 2nd quarter worth $16,710,000. Dimensional Fund Advisors LP raised its holdings in shares of Sight Sciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock valued at $1,288,000 after acquiring an additional 40,346 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Sight Sciences by 6.3% in the first quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock worth $1,106,000 after acquiring an additional 17,458 shares during the period. GSA Capital Partners LLP purchased a new stake in Sight Sciences in the second quarter worth about $908,000. Finally, Bank of America Corp DE bought a new position in Sight Sciences during the 2nd quarter worth about $520,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.