Sight Sciences (NASDAQ:SGHT) EVP Sells 2,988 Shares of Company Stock

Key Points

• Executive insider sale: EVP Brenton Taylor sold 2,988 Sight Sciences shares at an average price of $8.85, totaling $26,443.80. He retained 261,990 shares after the transaction.
• Stock performance: SGHT recently traded at $8.92, near its 52-week high of $9.71, with the shares above both their 50-day and 200-day moving averages.
• Mixed outlook: The company exceeded quarterly revenue and earnings expectations, while analysts maintain a “Moderate Buy” consensus with an average price target of $7.88; institutional investors own 55.51% of the stock.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) EVP Brenton Taylor sold 2,988 shares of Sight Sciences stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the sale, the executive vice president owned 261,990 shares in the company, valued at approximately $2,318,611.50. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sight Sciences Price Performance

NASDAQ:SGHT traded up $0.39 during trading hours on Monday, hitting $8.92. 564,937 shares of the stock were exchanged, compared to its average volume of 271,241. The firm's fifty day moving average price is $7.86 and its 200 day moving average price is $5.76. Sight Sciences, Inc. has a 52-week low of $3.19 and a 52-week high of $9.71. The company has a market cap of $491.40 million, a P/E ratio of -15.93 and a beta of 2.45. 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 released its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.10. The business had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. As a group, equities research analysts anticipate that Sight Sciences, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SGHT. Conquis Financial LLC purchased a new stake in shares of Sight Sciences during the second quarter worth $27,000. Diversified Trust Co acquired a new stake in Sight Sciences in the 1st quarter valued at about $51,000. The Manufacturers Life Insurance Company purchased a new position in shares of Sight Sciences in the 2nd quarter valued at about $60,000. AXQ Capital LP acquired a new position in shares of Sight Sciences during the fourth quarter worth about $89,000. Finally, Ieq Capital LLC acquired a new position in shares of Sight Sciences during the second quarter worth about $135,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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