Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 7,418 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $40,873.18. Following the completion of the transaction, the chief technology officer owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. This trade represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Sight Sciences Price Performance

Sight Sciences stock opened at $5.35 on Thursday. The company’s 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.27. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68. The stock has a market cap of $291.09 million, a P/E ratio of -7.54 and a beta of 2.38. Sight Sciences, Inc. has a twelve month low of $3.11 and a twelve month high of $9.24.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The firm had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.46 million. As a group, analysts expect that Sight Sciences, Inc. will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings downgraded shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sight Sciences presently has an average rating of “Hold” and an average target price of $8.25.

Key Sight Sciences News

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares at an average price of $5.42, the largest disclosed insider transaction and the clearest negative signal for sentiment. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to concerns because sales came from another key member of management. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi sold 7,418 shares and insider Jeremy B. Hayden sold 12,733 shares, reinforcing the pattern of insider selling across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock
• Negative Sentiment: EVP Brenton Taylor also sold 2,829 shares, extending the insider-selling trend and likely weighing on the stock. Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Sight Sciences during the first quarter worth about $128,000. Strs Ohio bought a new stake in shares of Sight Sciences during the 1st quarter worth approximately $158,000. Rhumbline Advisers lifted its holdings in shares of Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after acquiring an additional 4,319 shares during the period. Geode Capital Management LLC boosted its position in shares of Sight Sciences by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after acquiring an additional 43,791 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Sight Sciences during the 2nd quarter worth approximately $67,000. Institutional investors 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.