Jeremy Hayden Sells 6,308 Shares of Sight Sciences (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy Hayden sold 6,308 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $41,758.96. Following the completion of the sale, the insider owned 267,611 shares of the company’s stock, valued at $1,771,584.82. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Sight Sciences Price Performance

NASDAQ SGHT opened at $6.42 on Friday. Sight Sciences, Inc. has a fifty-two week low of $2.03 and a fifty-two week high of $9.24. The stock’s 50-day moving average is $7.77 and its two-hundred day moving average is $5.34. The firm has a market cap of $339.43 million, a P/E ratio of -7.13 and a beta of 2.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%.The company had revenue of $19.91 million during the quarter, compared to the consensus estimate of $17.74 million. On average, analysts anticipate that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James Financial set a $9.00 price objective on shares of Sight Sciences in a report on Monday, January 5th. Citigroup upped their price target on shares of Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a report on Thursday, December 11th. Lake Street Capital raised their price target on Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. UBS Group boosted their price objective on Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Finally, Piper Sandler set a $9.00 target price on Sight Sciences in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sight Sciences has an average rating of “Hold” and a consensus price target of $8.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after buying an additional 3,785 shares during the period. CWM LLC lifted its position in shares of Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after acquiring an additional 3,137 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after acquiring an additional 2,875 shares during the period. Bank of Montreal Can acquired a new stake in shares of Sight Sciences during the 2nd quarter worth approximately $49,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Sight Sciences by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock valued at $66,000 after purchasing an additional 4,453 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.