Insider Selling: Sight Sciences (NASDAQ:SGHT) CFO Sells $63,790.80 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CFO James Rodberg sold 7,208 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $63,790.80. Following the sale, the chief financial officer owned 216,829 shares of the company’s stock, valued at $1,918,936.65. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $8.47 on Thursday. The firm has a market capitalization of $466.61 million, a P/E ratio of -15.12 and a beta of 2.45. Sight Sciences, Inc. has a 1-year low of $3.19 and a 1-year high of $9.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. The business’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $5.87.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The firm had revenue of $23.39 million during the quarter, compared to the consensus estimate of $21.72 million. Equities analysts predict that Sight Sciences, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in Sight Sciences by 21.6% during the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock valued at $255,000 after purchasing an additional 8,297 shares in the last quarter. Bank of America Corp DE acquired a new position in Sight Sciences in the 2nd quarter worth $520,000. Canada Pension Plan Investment Board purchased a new position in Sight Sciences in the 2nd quarter valued at about $299,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the second quarter valued at about $60,000. Finally, Algert Global LLC grew its stake in shares of Sight Sciences by 25.3% during the second quarter. Algert Global LLC now owns 28,266 shares of the company’s stock valued at $153,000 after acquiring an additional 5,706 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group increased their price target on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.38.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.