Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy Hayden sold 12,733 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $5.51, for a total transaction of $70,158.83. Following the completion of the sale, the insider directly owned 357,037 shares of the company’s stock, valued at approximately $1,967,273.87. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Sight Sciences Trading Up 0.6%

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

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results 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 company had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.46 million. Sell-side analysts anticipate that Sight Sciences, Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently modified their holdings of SGHT. BNP Paribas Financial Markets grew its position in Sight Sciences by 99.8% during the 3rd 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 last quarter. Tower Research Capital LLC TRC increased its stake in Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares in the last quarter. Diversified Trust Co purchased a new position in Sight Sciences in the first quarter worth about $51,000. XTX Topco Ltd purchased a new position in Sight Sciences in the second quarter worth about $67,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Sight Sciences in the fourth quarter worth approximately $81,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

SGHT has been the subject of several research reports. Weiss Ratings lowered Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Citigroup lifted their price target on Sight Sciences from $4.35 to $5.15 and gave the company a “neutral” rating in a research report on Thursday, May 28th. Five 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.14.

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.