David Badawi Sells 7,418 Shares of Sight Sciences (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) CTO David Badawi sold 7,418 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $40,873.18. Following the completion of the transaction, the chief technology officer directly owned 1,982,872 shares in the company, valued at $10,925,624.72. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.35 on Wednesday. Sight Sciences, Inc. has a 52 week low of $3.11 and a 52 week high of $9.24. The company has a market capitalization of $291.09 million, a price-to-earnings ratio of -7.54 and a beta of 2.38. The company has a 50-day simple moving average of $4.97 and a 200 day simple moving average of $5.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $19.70 million during 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%. On average, sell-side analysts predict that Sight Sciences, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SGHT has been the subject of several recent research reports. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup lifted their target price on Sight Sciences from $4.35 to $5.15 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sight Sciences presently has a consensus rating of “Hold” and a consensus price target of $8.14.

More Sight Sciences News

Here are the key news stories impacting Sight Sciences this week:

• Negative Sentiment: CEO Paul Badawi sold 28,684 shares, the largest disclosed insider transaction in the batch, which may suggest reduced insider confidence. Sight Sciences (NASDAQ:SGHT) CEO Paul Badawi Sells 28,684 Shares of Stock
• Negative Sentiment: CFO James Rodberg sold 6,902 shares, adding to the leadership-level selling pressure. Sight Sciences (NASDAQ:SGHT) CFO Sells 6,902 Shares
• Negative Sentiment: CTO David Badawi, EVP Brenton Taylor, and insider Jeremy B. Hayden also sold shares, reinforcing the pattern of insider reductions across the company. Insider Selling: Sight Sciences (NASDAQ:SGHT) CTO Sells $40,873.18 in Stock Sight Sciences (NASDAQ:SGHT) EVP Sells $15,333.18 in Stock

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHT. AQR Capital Management LLC bought a new stake in shares of Sight Sciences in the first quarter valued at approximately $128,000. Strs Ohio bought a new position in Sight Sciences during the 1st quarter worth $158,000. Rhumbline Advisers increased its stake in Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after acquiring an additional 4,319 shares during the period. Geode Capital Management LLC raised its holdings in Sight Sciences by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock valued at $3,494,000 after acquiring an additional 43,791 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Sight Sciences during the 2nd quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.