David Badawi Sells 6,033 Shares of Sight Sciences (NASDAQ:SGHT) Stock

Key Points

• CTO David Badawi of Sight Sciences sold 6,033 shares at an average price of $3.27, reducing his ownership by 0.32% but still holding approximately 1.86 million shares valued at over $6 million.
• Sight Sciences reported a negative EPS of ($0.23) for the last quarter, beating expectations but marking a negative net margin of 64.23%.
• Research analysts have a consensus rating of "Hold" for Sight Sciences, with a target price averaging around $4.42, indicating moderate future growth potential.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CTO David Badawi sold 6,033 shares of the company's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $3.27, for a total transaction of $19,727.91. Following the completion of the transaction, the chief technology officer owned 1,864,992 shares in the company, valued at approximately $6,098,523.84. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sight Sciences Trading Down 0.6%

SGHT traded down $0.02 on Friday, reaching $3.29. 145,273 shares of the company traded hands, compared to its average volume of 185,355. The company has a market cap of $172.29 million, a P/E ratio of -3.43 and a beta of 2.42. The company has a quick ratio of 9.49, a current ratio of 10.01 and a debt-to-equity ratio of 0.57. Sight Sciences, Inc. has a one year low of $2.03 and a one year high of $6.29. The firm has a fifty day simple moving average of $3.75 and a two-hundred day simple moving average of $3.47.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. The business had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Sight Sciences, Inc. will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock valued at $31,000 after purchasing an additional 3,137 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Sight Sciences during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC boosted its position in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after buying an additional 2,875 shares during the last quarter. Bank of Montreal Can purchased a new stake in Sight Sciences in the second quarter valued at approximately $49,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Sight Sciences by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company's stock worth $66,000 after buying an additional 4,453 shares during the period. Hedge funds and other institutional investors own 55.51% of the company's stock.

Analysts Set New Price Targets

SGHT has been the subject of several recent research reports. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a report on Thursday, August 28th. Citigroup upped their price target on shares of Sight Sciences from $3.60 to $4.50 and gave the stock a "neutral" rating in a research report on Thursday, August 21st. Piper Sandler reiterated a "neutral" rating and set a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Sight Sciences in a research note on Saturday, September 27th. Finally, Morgan Stanley increased their target price on Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.