Sight Sciences (NASDAQ:SGHT) CTO Sells $19,727.91 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 6,033 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $3.27, for a total transaction of $19,727.91. Following the sale, the chief technology officer directly owned 1,864,992 shares in the company, valued at $6,098,523.84. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sight Sciences Trading Down 0.6%

Shares of NASDAQ:SGHT opened at $3.29 on Friday. The stock has a market capitalization of $172.30 million, a PE ratio of -3.43 and a beta of 2.41. The company’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.47. Sight Sciences, Inc. has a one year low of $2.03 and a one year high of $6.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. The company had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Sight Sciences

Several large investors have recently modified their holdings of the company. 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 buying an additional 2,875 shares during the period. Jane Street Group LLC bought a new position in shares of Sight Sciences in the second quarter valued at $148,000. B Group Inc. lifted its stake in shares of Sight Sciences by 11.6% in the second quarter. B Group Inc. now owns 930,000 shares of the company’s stock valued at $3,841,000 after buying an additional 96,400 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Sight Sciences in the second quarter valued at $132,000. Finally, XTX Topco Ltd bought a new position in shares of Sight Sciences in the second quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SGHT shares. Wall Street Zen upgraded shares of Sight Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Piper Sandler reissued a “neutral” rating and issued a $4.00 price objective (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th. Citigroup upped their price target on shares of Sight Sciences from $3.60 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Thursday, August 28th. Finally, Morgan Stanley increased their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.42.

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.