Insider Selling: Sight Sciences (NASDAQ:SGHT) CEO Sells 29,653 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 29,653 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total value of $268,359.65. Following the transaction, the chief executive officer directly owned 6,092,819 shares in the company, valued at $55,140,011.95. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Sight Sciences Stock Performance

SGHT stock traded up $0.39 during trading hours on Monday, reaching $8.92. The stock had a trading volume of 564,937 shares, compared to its average volume of 271,241. The stock has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $5.76. Sight Sciences, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $9.71. The stock has a market capitalization of $491.40 million, a PE ratio of -15.93 and a beta of 2.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. Analysts predict that Sight Sciences, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Trading of Sight Sciences

Several hedge funds have recently added to or reduced their stakes in SGHT. Conquis Financial LLC bought a new stake in Sight Sciences in the 2nd quarter valued at $27,000. The Manufacturers Life Insurance Company bought a new position in Sight Sciences during the 2nd quarter worth $60,000. AXQ Capital LP acquired a new stake in shares of Sight Sciences during the fourth quarter worth $89,000. Diversified Trust Co bought a new stake in shares of Sight Sciences in the first quarter valued at about $51,000. Finally, Ieq Capital LLC bought a new stake in shares of Sight Sciences in the second quarter valued at about $135,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SGHT shares. Citigroup reaffirmed a “neutral” rating on shares of Sight Sciences in a research report on Monday. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, UBS Group lifted their price objective on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, two 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 “Moderate Buy” and an average price target of $7.88.

About Sight Sciences

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.