Insider Selling: Sight Sciences (NASDAQ:SGHT) CEO Sells 24,441 Shares of Stock

Key Points

• Sight Sciences CEO Paul Badawi sold 24,441 shares of stock at an average price of $3.34, totaling approximately $81,632, which decreased his ownership to 5,962,502 shares.
• The company's stock has recently traded down to $3.29 and has a 12-month range of $2.03 to $6.29, with a market cap of $172.29 million.
• Research analysts have rated Sight Sciences primarily with a "Hold," with an average target price of $4.42, and recent earnings showed a revenue of $19.56 million, beating estimates.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CEO Paul Badawi sold 24,441 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $3.34, for a total value of $81,632.94. Following the transaction, the chief executive officer directly owned 5,962,502 shares of the company's stock, valued at $19,914,756.68. This represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT traded down $0.02 during mid-day trading on Friday, hitting $3.29. The company had a trading volume of 145,273 shares, compared to its average volume of 185,355. Sight Sciences, Inc. has a 12 month low of $2.03 and a 12 month high of $6.29. The firm has a market cap of $172.29 million, a P/E ratio of -3.43 and a beta of 2.42. The business's 50-day simple moving average is $3.75 and its 200-day simple moving average is $3.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49.

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, beating analysts' consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%.The business had revenue of $19.56 million during the quarter, compared to analyst estimates of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SGHT shares. Wall Street Zen upgraded shares of Sight Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a research report on Thursday, August 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of Sight Sciences in a report on Saturday, September 27th. Morgan Stanley lifted their target price on Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.42.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock valued at $31,000 after acquiring an additional 3,137 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Sight Sciences in the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC grew its stake in shares of 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 in the last quarter. Bank of Montreal Can acquired a new stake in Sight Sciences in the second quarter valued at $49,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Sight Sciences by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company's stock valued at $66,000 after acquiring an additional 4,453 shares during the period. Institutional investors own 55.51% of the company's stock.

Sight Sciences Company Profile

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.

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