Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $70,562.85 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 7,797 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.05, for a total transaction of $70,562.85. Following the completion of the transaction, the chief technology officer directly owned 1,975,075 shares of the company’s stock, valued at approximately $17,874,428.75. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sight Sciences Trading Down 1.1%

Sight Sciences stock opened at $8.47 on Thursday. The stock has a market cap of $466.61 million, a P/E ratio of -15.12 and a beta of 2.45. Sight Sciences, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $9.71. The firm’s fifty day moving average price is $8.06 and its 200-day moving average price is $5.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%.The company had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Equities research analysts forecast that Sight Sciences, Inc. will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently modified their holdings of SGHT. BlackRock Inc. purchased a new stake in Sight Sciences in the second quarter worth approximately $16,710,000. Dimensional Fund Advisors LP raised its stake in shares of Sight Sciences by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock worth $1,288,000 after acquiring an additional 40,346 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Sight Sciences by 6.3% during the first quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock worth $1,106,000 after acquiring an additional 17,458 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Sight Sciences in the 2nd quarter worth approximately $908,000. Finally, Bank of America Corp DE bought a new stake in shares of Sight Sciences in the 2nd quarter worth approximately $520,000. 55.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SGHT. UBS Group boosted their price objective on Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup lifted their target price on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday. Wall Street Zen raised shares of Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.38.

About Sight Sciences

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.