Jeremy Hayden Sells 9,731 Shares of Sight Sciences (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) insider Jeremy Hayden sold 9,731 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $3.27, for a total transaction of $31,820.37. Following the completion of the transaction, the insider directly owned 256,590 shares of the company’s stock, valued at $839,049.30. This represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $3.29 on Friday. The firm has a market capitalization of $172.30 million, a P/E ratio of -3.43 and a beta of 2.41. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $3.74 and its two-hundred day moving average price is $3.47. Sight Sciences, Inc. has a 1 year low of $2.03 and a 1 year high of $6.29.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. The company had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in SGHT. Tower Research Capital LLC TRC lifted its holdings in shares of Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after acquiring an additional 2,875 shares during the period. Jane Street Group LLC acquired a new position in Sight Sciences during the second quarter valued at approximately $148,000. B Group Inc. lifted its stake in Sight Sciences by 11.6% during the second quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after purchasing an additional 96,400 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Sight Sciences in the 2nd quarter valued at $132,000. Finally, XTX Topco Ltd bought a new position in shares of Sight Sciences in the 2nd quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Sight Sciences in a research note on Saturday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Thursday, August 28th. Morgan Stanley raised their price target on Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th. Finally, Lake Street Capital upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $5.00 in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sight Sciences presently has a consensus rating of “Hold” and an average price target of $4.42.

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.