Insider Selling: Sight Sciences (NASDAQ:SGHT) CEO Sells $155,467.28 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CEO Paul Badawi sold 28,684 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total transaction of $155,467.28. Following the completion of the transaction, the chief executive officer directly owned 6,122,472 shares in the company, valued at approximately $33,183,798.24. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $5.35 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48. Sight Sciences, Inc. has a 1 year low of $3.11 and a 1 year high of $9.24. The firm has a market cap of $291.09 million, a PE ratio of -7.54 and a beta of 2.38. The company has a 50 day simple moving average of $4.99 and a two-hundred day simple moving average of $5.27.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The business had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.46 million. Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. Analysts expect that Sight Sciences, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently made changes to their positions in the company. Americana Partners LLC raised its holdings in Sight Sciences by 12.1% in the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after purchasing an additional 149,161 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in shares of Sight Sciences during the 4th quarter valued at $294,000. Long Focus Capital Management LLC grew its position in shares of Sight Sciences by 1.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock worth $10,985,000 after buying an additional 41,797 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Sight Sciences by 32.7% in 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 period. Finally, BNP Paribas Financial Markets increased its stake 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 worth $26,000 after acquiring an additional 3,785 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on SGHT. Citigroup upped their price objective on shares of Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings cut shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sight Sciences presently has an average rating of “Hold” and a consensus target price of $8.25.

Key Headlines Impacting Sight Sciences

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

Sight Sciences Company Profile

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.