Insider Selling: Sight Sciences (NASDAQ:SGHT) EVP Sells $26,443.80 in Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Brenton Taylor sold 2,988 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $26,443.80. Following the completion of the sale, the executive vice president owned 261,990 shares in the company, valued at $2,318,611.50. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Sight Sciences Stock Up 4.6%

Shares of Sight Sciences stock traded up $0.39 during trading on Monday, hitting $8.92. 564,937 shares of the stock were exchanged, compared to its average volume of 271,241. 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 firm’s 50-day moving average price is $7.86 and its 200 day moving average price is $5.76. The stock has a market cap of $491.40 million, a price-to-earnings ratio of -15.93 and a beta of 2.45. Sight Sciences, Inc. has a 12-month low of $3.19 and a 12-month high of $9.71.

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

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Conquis Financial LLC purchased a new stake in shares of Sight Sciences in the 2nd quarter valued at about $27,000. WealthTrust Asset Management LLC grew its stake in Sight Sciences by 14.1% during the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock worth $168,000 after buying an additional 5,529 shares during the last quarter. Algert Global LLC grew its stake in Sight Sciences by 25.3% during the 2nd quarter. Algert Global LLC now owns 28,266 shares of the company’s stock worth $153,000 after buying an additional 5,706 shares during the last quarter. Hsbc Holdings PLC increased its position in Sight Sciences by 21.6% during the second quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock worth $255,000 after buying an additional 8,297 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Sight Sciences during the second quarter worth approximately $60,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Ratings Changes

SGHT has been the topic of several research analyst reports. Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group increased their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Friday, August 7th. Finally, Citigroup restated a “neutral” rating on shares of Sight Sciences in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.88.

About Sight Sciences

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.