Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) CEO Sells 23,637 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CEO Paul Badawi sold 23,637 shares of Sight Sciences stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total transaction of $98,093.55. Following the transaction, the chief executive officer owned 5,986,943 shares in the company, valued at $24,845,813.45. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sight Sciences Price Performance

Sight Sciences stock traded up $0.05 during mid-day trading on Thursday, hitting $3.57. The stock had a trading volume of 15,071 shares, compared to its average volume of 212,655. The firm has a market capitalization of $184.57 million, a P/E ratio of -3.65 and a beta of 2.47. The company has a current ratio of 10.47, a quick ratio of 9.99 and a debt-to-equity ratio of 0.51. The firm's 50 day moving average is $3.73 and its 200 day moving average is $3.14. Sight Sciences, Inc. has a one year low of $2.03 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. The business had revenue of $17.51 million for the quarter, compared to analysts' expectations of $16.51 million. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. On average, sell-side analysts forecast that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SGHT shares. Piper Sandler reiterated a "neutral" rating and set a $4.00 price target (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Lake Street Capital lifted their price target on shares of Sight Sciences from $2.50 to $3.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Citigroup reaffirmed a "neutral" rating and issued a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Sight Sciences from a "sell" rating to a "hold" rating in a report on Saturday, June 28th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $4.10.

Institutional Trading of Sight Sciences

Several hedge funds have recently bought and sold shares of SGHT. KCK LTD. purchased a new stake in Sight Sciences in the 2nd quarter worth $18,069,000. Long Focus Capital Management LLC raised its position in shares of Sight Sciences by 158.8% during the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company's stock valued at $8,149,000 after buying an additional 1,373,535 shares in the last quarter. B Group Inc. purchased a new stake in shares of Sight Sciences during the 4th quarter valued at about $2,291,000. Prosight Management LP raised its position in shares of Sight Sciences by 71.1% during the 4th quarter. Prosight Management LP now owns 908,847 shares of the company's stock valued at $3,308,000 after buying an additional 377,625 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Sight Sciences by 654.3% during the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company's stock valued at $1,431,000 after buying an additional 340,906 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company's stock.

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.