Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $32,014.32 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 4,836 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $6.62, for a total transaction of $32,014.32. Following the sale, the chief technology officer owned 1,912,273 shares in the company, valued at $12,659,247.26. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

David Badawi also recently made the following trade(s):

• On Tuesday, January 6th, David Badawi sold 3,695 shares of Sight Sciences stock. The stock was sold at an average price of $7.48, for a total transaction of $27,638.60.
• On Monday, January 5th, David Badawi sold 3,051 shares of Sight Sciences stock. The stock was sold at an average price of $7.82, for a total value of $23,858.82.
• On Friday, January 2nd, David Badawi sold 2,914 shares of Sight Sciences stock. The shares were sold at an average price of $7.43, for a total value of $21,651.02.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT opened at $6.02 on Friday. The company has a quick ratio of 8.93, a current ratio of 9.60 and a debt-to-equity ratio of 0.62. Sight Sciences, Inc. has a 52 week low of $2.03 and a 52 week high of $9.24. The firm has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $5.36. The stock has a market capitalization of $318.28 million, a P/E ratio of -6.69 and a beta of 2.42.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $19.91 million for the quarter, compared to analysts’ expectations of $17.74 million. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. On average, analysts expect that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James Financial set a $9.00 price objective on shares of Sight Sciences in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research note on Monday, December 29th. UBS Group upped their target price on shares of Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Lake Street Capital increased their price objective on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Morgan Stanley upped their target price on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sight Sciences has an average rating of “Hold” and an average target price of $8.30.

Institutional Trading of Sight Sciences

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares in the last quarter. CWM LLC grew its holdings in Sight Sciences by 70.2% in the second quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after purchasing an additional 3,137 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Sight Sciences during the second quarter worth $49,000. Finally, R Squared Ltd purchased a new stake in shares of Sight Sciences during the 3rd quarter valued at $64,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.