Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CTO Sells 5,423 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 5,423 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $2.78, for a total transaction of $15,075.94. Following the completion of the transaction, the chief technology officer now directly owns 1,744,118 shares in the company, valued at $4,848,648.04. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, January 8th, David Badawi sold 3,829 shares of Sight Sciences stock. The stock was sold at an average price of $3.26, for a total value of $12,482.54.
• On Friday, January 3rd, David Badawi sold 3,111 shares of Sight Sciences stock. The stock was sold at an average price of $3.52, for a total value of $10,950.72.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $2.96 on Friday. The company has a 50 day moving average of $3.55 and a 200-day moving average of $5.32. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a 1-year low of $2.67 and a 1-year high of $8.45. The company has a market cap of $150.23 million, a PE ratio of -2.90 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. As a group, equities research analysts forecast that Sight Sciences, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Sight Sciences in the 3rd quarter worth $75,000. Arkadios Wealth Advisors purchased a new position in shares of Sight Sciences in the 4th quarter worth about $47,000. The Manufacturers Life Insurance Company bought a new position in Sight Sciences during the second quarter valued at about $95,000. GSA Capital Partners LLP bought a new stake in Sight Sciences in the third quarter worth about $136,000. Finally, American Century Companies Inc. boosted its stake in Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after acquiring an additional 8,527 shares during the last quarter. 55.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Lake Street Capital decreased their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Citigroup lowered their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley dropped their price objective on shares of 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. Piper Sandler restated a “neutral” rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Finally, UBS Group assumed coverage on shares of Sight Sciences in a research report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.72.

About Sight Sciences

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.