Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Brenton Taylor sold 2,829 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total value of $15,333.18. Following the completion of the transaction, the executive vice president directly owned 264,978 shares of the company’s stock, valued at approximately $1,436,180.76. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sight Sciences Price Performance

NASDAQ:SGHT 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 firm has a market cap of $291.09 million, a price-to-earnings ratio of -7.54 and a beta of 2.38. The company’s 50-day moving average is $4.99 and its two-hundred day moving average is $5.27. The company has a current ratio of 5.86, a quick ratio of 5.48 and a debt-to-equity ratio of 0.68.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) 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 firm had revenue of $19.70 million for the quarter, compared to analysts’ expectations of $18.46 million. Research analysts expect that Sight Sciences, Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Sight Sciences

A number of large investors have recently bought and sold shares of SGHT. BNP Paribas Financial Markets boosted its holdings in shares of Sight Sciences by 99.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after purchasing an additional 3,785 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Sight Sciences by 32.7% during the 2nd 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 last quarter. Diversified Trust Co purchased a new position in shares of Sight Sciences in the 1st quarter worth $51,000. XTX Topco Ltd purchased a new position in shares of Sight Sciences in the 2nd quarter worth $67,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Sight Sciences in the fourth quarter valued at $81,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SGHT. Citigroup lifted their price objective on Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sight Sciences has an average rating of “Hold” and an average target price of $8.25.

Sight Sciences News Summary

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

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.