Sight Sciences (NASDAQ:SGHT) Stock: Insider David Badawi Sells 7,797 Shares

Key Points

• Insider sale: CTO David Badawi sold 7,797 Sight Sciences shares at an average price of $9.05, totaling approximately $70,563. He continues to own about 1.98 million shares.
• Stock performance: SGHT rose 4.6% to $8.92, with trading volume above its average. The stock has a 52-week range of $3.19 to $9.71 and a market capitalization of approximately $491 million.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with five Buy, two Hold, and one Sell rating, although the average price target of $7.88 is below the current share price.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) CTO David Badawi sold 7,797 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.05, for a total value of $70,562.85. Following the sale, the chief technology officer owned 1,975,075 shares in the company, valued at approximately $17,874,428.75. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sight Sciences Stock Up 4.6%

SGHT stock traded up $0.39 during mid-day trading on Monday, reaching $8.92. The company had a trading volume of 564,937 shares, compared to its average volume of 271,241. The firm has a fifty day simple moving average of $7.86 and a 200 day simple moving average of $5.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. The company has a market capitalization of $491.40 million, a price-to-earnings ratio of -15.93 and a beta of 2.45. Sight Sciences, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $9.71.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.10. The business had revenue of $23.39 million during 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%. Analysts forecast that Sight Sciences, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sight Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC increased its stake in Sight Sciences by 21.6% in the second quarter. Hsbc Holdings PLC now owns 46,707 shares of the company's stock valued at $255,000 after purchasing an additional 8,297 shares during the period. Bank of America Corp DE purchased a new position in shares of Sight Sciences during the second quarter worth about $520,000. Canada Pension Plan Investment Board purchased a new position in shares of Sight Sciences during the second quarter worth about $299,000. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences in the 2nd quarter valued at about $60,000. Finally, Algert Global LLC increased its position in Sight Sciences by 25.3% in the 2nd quarter. Algert Global LLC now owns 28,266 shares of the company's stock valued at $153,000 after acquiring an additional 5,706 shares during the period. Hedge funds and other institutional investors own 55.51% of the company's stock.

Sight Sciences Company Profile

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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