Insider Selling: Sight Sciences (NASDAQ:SGHT) CEO Sells $108,202.80 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 29,244 shares of Sight Sciences stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $3.70, for a total value of $108,202.80. Following the completion of the sale, the chief executive officer owned 6,151,156 shares of the company’s stock, valued at $22,759,277.20. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paul Badawi also recently made the following trade(s):

• On Friday, January 16th, Paul Badawi sold 22,362 shares of Sight Sciences stock. The shares were sold at an average price of $6.62, for a total transaction of $148,036.44.
• On Tuesday, January 6th, Paul Badawi sold 11,870 shares of Sight Sciences stock. The stock was sold at an average price of $7.48, for a total transaction of $88,787.60.

Sight Sciences Price Performance

SGHT opened at $3.52 on Monday. Sight Sciences, Inc. has a 1 year low of $2.03 and a 1 year high of $9.24. The company’s 50 day simple moving average is $4.82 and its 200 day simple moving average is $5.76. The stock has a market capitalization of $190.12 million, a PE ratio of -4.69 and a beta of 2.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.52 and a current ratio of 10.22.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The firm had revenue of $20.39 million during the quarter, compared to analyst estimates of $20.35 million. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. As a group, sell-side analysts expect that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SGHT. Raymond James Financial set a $9.00 target price on Sight Sciences in a report on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. William Blair reaffirmed an “outperform” rating on shares of Sight Sciences in a research note on Thursday, March 5th. Citigroup decreased their target price on Sight Sciences from $9.10 to $6.50 and set a “neutral” rating for the company in a report on Friday, March 6th. Finally, UBS Group dropped their target price on shares of Sight Sciences from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sight Sciences currently has a consensus rating of “Hold” and an average target price of $8.31.

Institutional Trading of Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in 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 purchasing an additional 3,785 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in shares of Sight Sciences in the fourth quarter worth about $81,000. AXQ Capital LP purchased a new stake in shares of Sight Sciences in the fourth quarter worth about $89,000. Tower Research Capital LLC TRC grew its stake in shares of Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after buying an additional 2,875 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Sight Sciences during the 4th quarter valued at about $96,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Company Profile

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.