Insider Selling: Sight Sciences, Inc. (NASDAQ:SGHT) Insider Sells 6,922 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy B. Hayden sold 6,922 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $2.78, for a total value of $19,243.16. Following the completion of the transaction, the insider now directly owns 145,091 shares of the company’s stock, valued at approximately $403,352.98. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sight Sciences Trading Up 2.1 %

SGHT traded up $0.06 during mid-day trading on Tuesday, reaching $2.89. The stock had a trading volume of 236,872 shares, compared to its average volume of 283,998. The stock has a market capitalization of $146.70 million, a P/E ratio of -2.83 and a beta of 2.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The firm’s fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $5.35. Sight Sciences, Inc. has a 52 week low of $2.67 and a 52 week high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. On average, equities analysts predict that Sight Sciences, Inc. will post -1.01 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SGHT. Morgan Stanley dropped their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Citigroup dropped their target price on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a report on Wednesday, December 11th. UBS Group began coverage on Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 price target on the stock. Lake Street Capital decreased their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 15th. Finally, Piper Sandler restated a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.72.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Sight Sciences by 47.6% during the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after purchasing an additional 5,681 shares during the period. KCK LTD. acquired a new stake in shares of Sight Sciences during the fourth quarter worth $15,925,000. Arkadios Wealth Advisors bought a new position in Sight Sciences during the fourth quarter worth about $47,000. JPMorgan Chase & Co. lifted its holdings in Sight Sciences by 335.3% during the third quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock worth $439,000 after acquiring an additional 53,658 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock worth $1,174,000 after acquiring an additional 10,000 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.