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 Sight Sciences stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the sale, the chief technology officer directly owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. The trade was a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sight Sciences Stock Up 0.6%

Shares of SGHT opened at $5.48 on Tuesday. The stock has a market capitalization of $298.17 million, a price-to-earnings ratio of -7.72 and a beta of 2.38. Sight Sciences, Inc. has a 1 year low of $3.11 and a 1 year high of $9.24. The business’s 50 day simple moving average is $4.95 and its 200-day simple moving average is $5.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48.

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

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently modified their holdings of SGHT. Alliancebernstein L.P. lifted its stake in shares of Sight Sciences by 5.5% during the 3rd quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after acquiring an additional 1,800 shares during the last quarter. Deutsche Bank AG boosted its holdings in Sight Sciences by 9.8% during the 4th quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock valued at $217,000 after acquiring an additional 2,439 shares during the period. Tower Research Capital LLC TRC grew its position in Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sight Sciences by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock valued at $1,045,000 after acquiring an additional 3,051 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after purchasing an additional 3,785 shares during the period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup upped their target price on shares of Sight Sciences from $4.35 to $5.15 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Five 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. According to data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and an average price target of $8.14.

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.