Paul Badawi Sells 28,684 Shares of Sight Sciences (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 28,684 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total transaction of $155,467.28. Following the sale, the chief executive officer directly owned 6,122,472 shares of the company’s stock, valued at $33,183,798.24. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sight Sciences Price Performance

SGHT stock opened at $5.35 on Wednesday. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68. Sight Sciences, Inc. has a 12 month low of $3.11 and a 12 month high of $9.24. The firm has a market cap of $291.09 million, a P/E ratio of -7.54 and a beta of 2.38. The company’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $5.29.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Sight Sciences by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock valued at $1,106,000 after acquiring an additional 17,458 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Sight Sciences by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock worth $1,288,000 after purchasing an additional 40,346 shares in the last quarter. WealthTrust Asset Management LLC increased its holdings in Sight Sciences by 14.1% in the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock worth $168,000 after purchasing an additional 5,529 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Sight Sciences by 7,118.8% in the first quarter. Hillsdale Investment Management Inc. now owns 69,300 shares of the company’s stock valued at $261,000 after purchasing an additional 68,340 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Sight Sciences during the first quarter valued at about $147,000. 55.51% of the stock is currently owned by institutional investors.

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, the largest disclosed insider transaction in the batch, which may suggest reduced insider confidence. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to the leadership-level selling pressure. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi, EVP Brenton Taylor, and insider Jeremy B. Hayden also sold shares, reinforcing the pattern of insider reductions across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup boosted their price target on Sight Sciences from $4.35 to $5.15 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Weiss Ratings cut Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.14.

About Sight Sciences

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.