Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells 6,922 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 6,922 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 145,091 shares in the company, valued at approximately $403,352.98. This trade represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sight Sciences Stock Up 2.1 %

SGHT traded up $0.06 on Tuesday, hitting $2.89. 236,872 shares of the company were exchanged, compared to its average volume of 283,998. Sight Sciences, Inc. has a 12 month low of $2.67 and a 12 month high of $8.45. The company has a market cap of $146.70 million, a PE ratio of -2.83 and a beta of 2.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock’s fifty day moving average is $3.59 and its 200-day moving average is $5.35.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Equities research analysts predict that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently bought and sold shares of SGHT. KCK LTD. acquired a new position in Sight Sciences during the fourth quarter worth approximately $15,925,000. Long Focus Capital Management LLC grew its position in shares of Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after purchasing an additional 260,594 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Sight Sciences in the second quarter valued at approximately $1,234,000. Millrace Asset Group Inc. acquired a new position in shares of Sight Sciences in the third quarter valued at approximately $874,000. Finally, State Street Corp grew its position in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SGHT shares. Lake Street Capital cut their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Citigroup cut their price target on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Piper Sandler restated a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. UBS Group assumed coverage on Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target on the stock. Finally, Morgan Stanley dropped their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Sight Sciences has a consensus rating of “Hold” and an average price target of $4.72.

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.