Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells 8,168 Shares of Stock

Key Points

• CTO David Badawi sold 8,168 shares on April 2 at an average price of $3.48 ( ~$28.4K), trimming his position by 0.41% to 1,990,290 shares (~$6.93M); he also sold a combined 11,582 shares in January at higher prices.
• Sight Sciences stock was trading around $3.52, with a 12‑month range of $2.03–$9.24, a market cap of ~$190.1M and negative EPS; analysts’ consensus is a "Hold" with a $8.31 average target.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CTO David Badawi sold 8,168 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $3.48, for a total value of $28,424.64. Following the sale, the chief technology officer directly owned 1,990,290 shares in the company, valued at approximately $6,926,209.20. The trade was a 0.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 16th, David Badawi sold 4,836 shares of Sight Sciences stock. The shares were sold at an average price of $6.62, for a total value of $32,014.32.
• On Tuesday, January 6th, David Badawi sold 3,695 shares of Sight Sciences stock. The shares were sold at an average price of $7.48, for a total value of $27,638.60.
• On Monday, January 5th, David Badawi sold 3,051 shares of Sight Sciences stock. The stock was sold at an average price of $7.82, for a total value of $23,858.82.

Sight Sciences Price Performance

Sight Sciences stock remained flat at $3.52 during midday trading on Friday. 236,639 shares of the company's stock traded hands, compared to its average volume of 413,049. Sight Sciences, Inc. has a 12-month low of $2.03 and a 12-month high of $9.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.22 and a quick ratio of 9.52. The firm has a market capitalization of $190.10 million, a P/E ratio of -4.69 and a beta of 2.50. The business's 50 day simple moving average is $4.87 and its 200-day simple moving average is $5.73.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. The company had revenue of $20.39 million for the quarter, compared to analysts' expectations of $20.35 million. As a group, equities analysts anticipate that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SGHT. Weiss Ratings reissued a "sell (e+)" rating on shares of Sight Sciences in a research note on Monday, December 29th. Stifel Nicolaus upped their target price on Sight Sciences from $6.00 to $8.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group dropped their price target on Sight Sciences from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a report on Monday, March 2nd. Finally, Citigroup reduced their price objective on shares of Sight Sciences from $9.10 to $6.50 and set a "neutral" rating for the company in a research note on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sight Sciences currently has an average rating of "Hold" and a consensus target price of $8.31.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGHT. Americana Partners LLC lifted its holdings in shares of Sight Sciences by 42.4% in the third quarter. Americana Partners LLC now owns 1,229,819 shares of the company's stock valued at $4,231,000 after purchasing an additional 365,901 shares in the last quarter. B Group Inc. grew its holdings in shares of Sight Sciences by 11.6% during the second quarter. B Group Inc. now owns 930,000 shares of the company's stock valued at $3,841,000 after buying an additional 96,400 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Sight Sciences by 26.2% during the second quarter. Intech Investment Management LLC now owns 25,366 shares of the company's stock valued at $105,000 after buying an additional 5,261 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences during the fourth quarter valued at $96,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Sight Sciences in the 4th quarter worth about $81,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.

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