Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells 9,160 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) insider Jeremy B. Hayden sold 9,160 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares of the company's stock, valued at $1,110,558.57. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sight Sciences Stock Down 2.6%

Shares of SGHT traded down $0.09 during mid-day trading on Thursday, hitting $3.43. 81,120 shares of the company's stock were exchanged, compared to its average volume of 210,446. The company has a market cap of $177.32 million, a price-to-earnings ratio of -3.50 and a beta of 2.47. Sight Sciences, Inc. has a fifty-two week low of $2.03 and a fifty-two week high of $8.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 9.99 and a current ratio of 10.47. The stock's 50-day moving average is $3.73 and its 200-day moving average is $3.14.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share (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 anticipate that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SGHT. Wall Street Zen raised shares of Sight Sciences from a "sell" rating to a "hold" rating in a report on Saturday, June 28th. Citigroup reissued a "neutral" rating and issued a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Lake Street Capital upped their target price on shares of Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research report on Friday, May 9th. 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 report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Sight Sciences currently has a consensus rating of "Hold" and an average target price of $4.10.

Institutional Trading of Sight Sciences

Several hedge funds have recently added to or reduced their stakes in SGHT. KCK LTD. acquired a new stake in Sight Sciences in the second quarter valued at approximately $18,069,000. Long Focus Capital Management LLC increased its stake in Sight Sciences by 158.8% in the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company's stock valued at $8,149,000 after purchasing an additional 1,373,535 shares during the last quarter. B Group Inc. purchased a new position in Sight Sciences in the fourth quarter valued at approximately $2,291,000. Prosight Management LP increased its stake in Sight Sciences by 71.1% in the fourth quarter. Prosight Management LP now owns 908,847 shares of the company's stock valued at $3,308,000 after purchasing an additional 377,625 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Sight Sciences by 654.3% in the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company's stock valued at $1,431,000 after purchasing an additional 340,906 shares during the last quarter. Institutional investors and hedge funds 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.