Insider Selling: Sight Sciences (NASDAQ:SGHT) CFO Sells $63,790.80 in Stock

Key Points

• Sight Sciences CFO James Rodberg sold 7,208 shares at an average price of $8.85, generating $63,790.80. His remaining stake totaled 216,829 shares, representing a 3.22% reduction.
• The stock traded at $8.92, near its 52-week high of $9.71, while quarterly results exceeded expectations: the company reported a $0.08-per-share loss versus the $0.18 consensus loss and revenue of $23.39 million.
• Analyst sentiment was mixed but leaned positive, with five Buy ratings, two Holds and one Sell; the consensus rating was Moderate Buy, with an average price target of $7.88.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CFO James Rodberg sold 7,208 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $63,790.80. Following the transaction, the chief financial officer owned 216,829 shares of the company's stock, valued at approximately $1,918,936.65. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Sight Sciences Price Performance

Shares of NASDAQ SGHT traded up $0.39 during midday trading on Monday, reaching $8.92. The company's stock had a trading volume of 564,937 shares, compared to its average volume of 271,241. Sight Sciences, Inc. has a one year low of $3.19 and a one year high of $9.71. The company has a market cap of $491.40 million, a price-to-earnings ratio of -15.93 and a beta of 2.45. The company has a 50 day moving average price of $7.86 and a 200 day moving average price of $5.76. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly 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 for 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%. On average, equities research analysts expect that Sight Sciences, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Sight Sciences

Large investors have recently added to or reduced their stakes in the business. Conquis Financial LLC bought a new position in shares of Sight Sciences in the second quarter valued at approximately $27,000. Diversified Trust Co bought a new stake in Sight Sciences during the 1st quarter valued at approximately $51,000. The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences in the 2nd quarter valued at approximately $60,000. AXQ Capital LP acquired a new stake in Sight Sciences in the 4th quarter valued at approximately $89,000. Finally, Ieq Capital LLC bought a new position in Sight Sciences in the 2nd quarter worth approximately $135,000. 55.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

About Sight Sciences

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.

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