Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells 6,922 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 6,922 shares of Sight Sciences stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $2.78, for a total value of $19,243.16. Following the completion of the transaction, the insider now directly owns 145,091 shares of the company’s stock, valued at approximately $403,352.98. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sight Sciences Stock Performance

NASDAQ:SGHT opened at $2.96 on Friday. Sight Sciences, Inc. has a 12 month low of $2.67 and a 12 month high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The firm has a market capitalization of $150.23 million, a PE ratio of -2.90 and a beta of 2.57. The business’s fifty day moving average price is $3.55 and its 200 day moving average price is $5.32.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The business had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. On average, sell-side analysts anticipate that Sight Sciences, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SGHT shares. Morgan Stanley dropped their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and set a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. UBS Group assumed coverage on Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Finally, Citigroup decreased their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.72.

Institutional Trading of Sight Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Sight Sciences in the 3rd quarter valued at $75,000. Arkadios Wealth Advisors purchased a new stake in Sight Sciences in the fourth quarter valued at $47,000. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences in the second quarter valued at $95,000. GSA Capital Partners LLP acquired a new stake in shares of Sight Sciences during the third quarter worth about $136,000. Finally, American Century Companies Inc. lifted its holdings in shares of Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after purchasing an additional 8,527 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.