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

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy Hayden sold 6,308 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $6.62, for a total value of $41,758.96. Following the completion of the transaction, the insider directly owned 267,611 shares in the company, valued at $1,771,584.82. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sight Sciences Stock Performance

Shares of Sight Sciences stock traded up $0.14 during trading hours on Wednesday, reaching $6.38. 326,019 shares of the stock traded hands, compared to its average volume of 315,994. Sight Sciences, Inc. has a one year low of $2.03 and a one year high of $9.24. The firm has a market capitalization of $337.31 million, a price-to-earnings ratio of -7.09 and a beta of 2.42. The company has a quick ratio of 8.93, a current ratio of 9.60 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $7.81 and a 200 day moving average price of $5.32.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, November 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. The business had revenue of $19.91 million during the quarter, compared to analysts’ expectations of $17.74 million. On average, equities research analysts expect that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Lake Street Capital lifted their target price on shares of Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Raymond James Financial set a $9.00 price objective on Sight Sciences in a research report on Monday, January 5th. Piper Sandler set a $9.00 price objective on Sight Sciences in a research note on Monday, January 5th. Morgan Stanley increased their target price on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after buying an additional 3,785 shares in the last quarter. CWM LLC increased its stake in Sight Sciences by 70.2% during the second quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after acquiring an additional 3,137 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares during the period. Bank of Montreal Can bought a new stake in shares of Sight Sciences in the 2nd quarter valued at approximately $49,000. Finally, R Squared Ltd purchased a new position in shares of Sight Sciences in the 3rd quarter worth approximately $64,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Sight Sciences

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.