Sight Sciences (NASDAQ:SGHT) Insider Jeremy Hayden Sells 6,308 Shares

by · The Cerbat Gem

Sight Sciences, Inc. (NASDAQ:SGHT – Get Free Report) insider Jeremy Hayden sold 6,308 shares of Sight Sciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $41,758.96. Following the transaction, the insider directly owned 267,611 shares of the company’s stock, valued at $1,771,584.82. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sight Sciences Trading Up 2.2%

Shares of SGHT traded up $0.14 during midday trading on Wednesday, hitting $6.38. The stock had a trading volume of 326,019 shares, compared to its average volume of 315,994. Sight Sciences, Inc. has a 1 year low of $2.03 and a 1 year high of $9.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. The stock’s 50 day moving average is $7.81 and its 200 day moving average is $5.32. The firm has a market cap of $337.31 million, a PE ratio of -7.09 and a beta of 2.42.

Sight Sciences (NASDAQ:SGHT – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. The company had revenue of $19.91 million for the quarter, compared to the consensus estimate of $17.74 million. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. As a group, analysts forecast that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on SGHT. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Lake Street Capital lifted their target price on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Morgan Stanley upped their price target on shares of Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Citigroup raised their price target on shares of Sight Sciences from $5.50 to $9.10 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Piper Sandler set a $9.00 target price on Sight Sciences in a research report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.30.

View Our Latest Stock Analysis on SGHT

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Americana Partners LLC purchased a new position in Sight Sciences in the second quarter valued at about $3,568,000. Vanguard Group Inc. lifted its position in shares of Sight Sciences by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock valued at $6,559,000 after buying an additional 102,609 shares during the last quarter. B Group Inc. boosted its holdings in shares of Sight Sciences by 11.6% in the 2nd 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. Palumbo Wealth Management LLC purchased a new position in shares of Sight Sciences in the 2nd quarter worth approximately $328,000. Finally, Millennium Management LLC grew its position in shares of Sight Sciences by 145.2% in the 3rd quarter. Millennium Management LLC now owns 133,846 shares of the company’s stock worth $460,000 after buying an additional 79,265 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

About Sight Sciences

(Get Free Report)

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.

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