Insider Selling: Sight Sciences (NASDAQ:SGHT) CFO Sells 2,616 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CFO James Rodberg sold 2,616 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $6.62, for a total transaction of $17,317.92. Following the completion of the sale, the chief financial officer owned 151,230 shares in the company, valued at $1,001,142.60. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

James Rodberg also recently made the following trade(s):

• On Tuesday, January 6th, James Rodberg sold 594 shares of Sight Sciences stock. The stock was sold at an average price of $7.48, for a total transaction of $4,443.12.
• On Monday, January 5th, James Rodberg sold 4,405 shares of Sight Sciences stock. The shares were sold at an average price of $7.82, for a total transaction of $34,447.10.

Sight Sciences Price Performance

NASDAQ:SGHT traded up $0.14 on Wednesday, reaching $6.38. The stock had a trading volume of 326,019 shares, compared to its average volume of 315,994. The company has a quick ratio of 8.93, a current ratio of 9.60 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $337.31 million, a P/E ratio of -7.09 and a beta of 2.42. Sight Sciences, Inc. has a 1-year low of $2.03 and a 1-year high of $9.24. The stock has a fifty day moving average price of $7.81 and a 200-day moving average price of $5.32.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, November 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $19.91 million during the quarter, compared to analysts’ expectations of $17.74 million. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. Research analysts forecast that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently modified their holdings of SGHT. Alliancebernstein L.P. boosted its stake in Sight Sciences by 5.5% in the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock valued at $118,000 after acquiring an additional 1,800 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 acquiring an additional 2,875 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 3,051 shares during the period. CWM LLC boosted its position in shares of Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after purchasing an additional 3,137 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Sight Sciences by 99.8% in the 3rd 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 last quarter. 55.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SGHT has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Piper Sandler set a $9.00 price target on shares of Sight Sciences in a research report on Monday, January 5th. Morgan Stanley increased their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th. Finally, Raymond James Financial set a $9.00 target price on shares of Sight Sciences in a research note on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.30.

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.