Insider Buying: Sight Sciences, Inc. (NASDAQ:SGHT) EVP Purchases 10,000 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja purchased 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at approximately $395,850. This represents a 7.41 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sight Sciences Trading Down 10.8 %

Shares of Sight Sciences stock traded down $0.29 during trading on Thursday, hitting $2.40. The company’s stock had a trading volume of 315,665 shares, compared to its average volume of 281,056. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences, Inc. has a 52 week low of $2.17 and a 52 week high of $8.45. The stock has a market cap of $121.81 million, a price-to-earnings ratio of -2.35 and a beta of 2.52. The stock has a 50-day moving average price of $2.82 and a two-hundred day moving average price of $4.30.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The firm had revenue of $19.07 million for the quarter, compared to the consensus estimate of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same period last year, the company posted ($0.22) EPS. Equities research analysts anticipate that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SGHT shares. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. Piper Sandler lowered their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 6th. Citigroup lowered their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Stifel Nicolaus lowered their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, UBS Group lowered their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.83.

Institutional Trading of Sight Sciences

A number of institutional investors have recently bought and sold shares of the company. KCK LTD. bought a new stake in Sight Sciences during the fourth quarter valued at $15,925,000. Long Focus Capital Management LLC boosted its position in Sight Sciences by 158.8% during the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after acquiring an additional 1,373,535 shares during the last quarter. Prosight Management LP boosted its position in Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock valued at $3,308,000 after acquiring an additional 377,625 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Sight Sciences by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock worth $2,887,000 after purchasing an additional 8,731 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Sight Sciences by 17.4% during 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 in the last quarter. Institutional investors 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.