Sight Sciences (NASDAQ:SGHT) Insider Sells $70,158.83 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy Hayden sold 12,733 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of the sale, the insider owned 357,037 shares in the company, valued at $1,967,273.87. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.35 on Thursday. Sight Sciences, Inc. has a 12 month low of $3.11 and a 12 month high of $9.24. The stock has a market capitalization of $291.09 million, a P/E ratio of -7.54 and a beta of 2.38. The company has a current ratio of 5.86, a quick ratio of 5.48 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $4.99 and its 200 day moving average is $5.27.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The company had revenue of $19.70 million during the quarter, compared to analysts’ expectations of $18.46 million. On average, sell-side analysts anticipate that Sight Sciences, Inc. will post -0.6 earnings per share for the current year.

Key Headlines Impacting Sight Sciences

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares at an average price of $5.42, the largest disclosed insider transaction and the clearest negative signal for sentiment. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to concerns because sales came from another key member of management. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi sold 7,418 shares and insider Jeremy B. Hayden sold 12,733 shares, reinforcing the pattern of insider selling across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) Insider Sells 12,733 Shares of Stock
• Negative Sentiment: EVP Brenton Taylor also sold 2,829 shares, extending the insider-selling trend and likely weighing on the stock. Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Sight Sciences by 6.3% in 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 during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Sight Sciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock worth $1,288,000 after buying an additional 40,346 shares during the last quarter. WealthTrust Asset Management LLC grew its position in Sight Sciences by 14.1% during the first quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock valued at $168,000 after buying an additional 5,529 shares during the period. Hillsdale Investment Management Inc. grew its position in Sight Sciences by 7,118.8% during the first quarter. Hillsdale Investment Management Inc. now owns 69,300 shares of the company’s stock valued at $261,000 after buying an additional 68,340 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Sight Sciences during the first quarter valued at approximately $147,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

SGHT has been the subject of several research reports. Citigroup upped their target price on shares of Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings cut Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.25.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.