Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells $19,243.16 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 6,922 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $403,352.98. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sight Sciences Trading Up 2.8 %

Shares of SGHT stock opened at $2.96 on Friday. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a twelve month low of $2.67 and a twelve month high of $8.45. The company’s 50-day moving average price is $3.55 and its 200-day moving average price is $5.32. The stock has a market cap of $150.23 million, a price-to-earnings ratio of -2.90 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. As a group, equities analysts predict that Sight Sciences, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th. Citigroup cut their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley decreased 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 research note on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Finally, Lake Street Capital decreased their price target on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Sight Sciences has a consensus rating of “Hold” and an average target price of $4.72.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KCK LTD. purchased a new position in shares of Sight Sciences during the 4th quarter worth $15,925,000. Barclays PLC boosted its stake in Sight Sciences by 317.4% during the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after buying an additional 38,248 shares during the period. Millrace Asset Group Inc. purchased a new position in Sight Sciences during the third quarter worth about $874,000. Geode Capital Management LLC raised its stake in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after acquiring an additional 12,709 shares during the period. Finally, State Street Corp lifted its holdings in shares of Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after acquiring an additional 95,843 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Company Profile

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.