Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells 4,864 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 4,864 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $3.52, for a total value of $17,121.28. Following the completion of the transaction, the insider now directly owns 153,823 shares of the company’s stock, valued at approximately $541,456.96. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sight Sciences Stock Performance

NASDAQ SGHT traded down $0.09 on Monday, hitting $3.40. 235,749 shares of the company traded hands, compared to its average volume of 240,716. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $3.97 and its 200-day moving average price is $5.60. The company has a market capitalization of $172.57 million, a price-to-earnings ratio of -3.33 and a beta of 2.57. Sight Sciences, Inc. has a 52-week low of $3.30 and a 52-week high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (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 company had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. Equities analysts expect that Sight Sciences, Inc. will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Sight Sciences by 335.3% during the third quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock valued at $439,000 after acquiring an additional 53,658 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock worth $1,174,000 after purchasing an additional 10,000 shares in the last quarter. Barclays PLC raised its stake in Sight Sciences by 317.4% during the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after purchasing an additional 38,248 shares during the period. Geode Capital Management LLC lifted its holdings in Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares in the last quarter. Finally, State Street Corp boosted its stake in 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 purchasing an additional 95,843 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SGHT shares. UBS Group started coverage on shares of Sight Sciences in a report on Friday, December 6th. They set a “buy” rating and a $5.50 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley cut their price objective on 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 reissued a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Lake Street Capital downgraded Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and a consensus price target of $5.12.

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.