Sight Sciences (NASDAQ:SGHT) Announces Quarterly Earnings Results

Key Points

• Q1 results: Sight Sciences reported EPS of ($0.24), missing the consensus by $0.05 while revenue of $19.7M beat estimates, but the company still posted a steep negative net margin (49.67%) and ROE (-55.72%).
• Insider activity: Insiders sold 61,273 shares (~$221,764) over the last 90 days, including recent sales by the CTO and another officer, though insiders retain 28.90% ownership and institutions own 55.51%.
• Market and analyst positioning: SGHT traded at $4.30 (down 0.7%) with a 1-year range of $2.81–$9.24, and Wall Street consensus is a "Hold" with an average price target of $8.31.

Sight Sciences (NASDAQ:SGHT - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05), FiscalAI reports. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. The firm had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.47 million.

Sight Sciences Trading Down 0.7%

NASDAQ SGHT traded down $0.03 during trading hours on Wednesday, hitting $4.30. 183,982 shares of the company's stock were exchanged, compared to its average volume of 316,939. The stock has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $5.83. Sight Sciences has a 1-year low of $2.81 and a 1-year high of $9.24. The firm has a market cap of $233.92 million, a price-to-earnings ratio of -5.73 and a beta of 2.38. The company has a current ratio of 10.22, a quick ratio of 9.52 and a debt-to-equity ratio of 0.63.

Insiders Place Their Bets

In related news, CTO David Badawi sold 8,168 shares of the firm'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 transaction of $28,424.64. Following the completion of the sale, the chief technology officer owned 1,990,290 shares of the company's stock, valued at $6,926,209.20. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeremy B. Hayden sold 13,761 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.55, for a total value of $48,851.55. Following the sale, the insider directly owned 369,770 shares of the company's stock, valued at $1,312,683.50. This represents a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 61,273 shares of company stock worth $221,764. Company insiders own 28.90% of the company's stock.

Institutional Investors Weigh In On Sight Sciences

Several large investors have recently added to or reduced their stakes in SGHT. Integral Health Asset Management LLC acquired a new stake in Sight Sciences during the fourth quarter worth approximately $3,370,000. Invesco Ltd. acquired a new stake in Sight Sciences in the fourth quarter valued at approximately $2,791,000. Walleye Capital LLC acquired a new stake in Sight Sciences in the fourth quarter valued at approximately $2,332,000. Informed Momentum Co LLC acquired a new stake in Sight Sciences in the fourth quarter valued at approximately $1,299,000. Finally, Millennium Management LLC grew its stake in Sight Sciences by 99.4% in the fourth quarter. Millennium Management LLC now owns 266,919 shares of the company's stock valued at $2,117,000 after acquiring an additional 133,073 shares during the period. Institutional investors and hedge funds own 55.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SGHT shares. Citigroup lowered their price objective on Sight Sciences from $9.10 to $6.50 and set a "neutral" rating for the company in a research report on Friday, March 6th. Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a research report on Monday, March 2nd. UBS Group lowered their price objective on Sight Sciences from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, March 6th. Stifel Nicolaus raised their price objective on Sight Sciences from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Sight Sciences in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.31.

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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