Insider Buying: Sight Sciences, Inc. (NASDAQ:SGHT) EVP Acquires 4,624 Shares of Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja acquired 4,624 shares of the stock in a transaction dated Friday, November 29th. The shares were bought at an average cost of $3.99 per share, for a total transaction of $18,449.76. Following the completion of the transaction, the executive vice president now owns 102,624 shares in the company, valued at approximately $409,469.76. This represents a 4.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sight Sciences Trading Down 4.0 %

Shares of NASDAQ SGHT traded down $0.16 during trading on Tuesday, hitting $3.86. 102,699 shares of the company were exchanged, compared to its average volume of 200,215. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The firm has a market capitalization of $195.93 million, a PE ratio of -3.78 and a beta of 2.58. The company has a fifty day moving average price of $5.09 and a 200-day moving average price of $6.07. Sight Sciences, Inc. has a 12-month low of $2.58 and a 12-month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. As a group, equities research analysts expect that Sight Sciences, Inc. will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently modified their holdings of SGHT. Vanguard Group Inc. grew its position in shares of Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after acquiring an additional 81,768 shares during the last quarter. Geode Capital Management LLC increased its stake in Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares during the period. State Street Corp boosted its stake in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after buying an additional 95,843 shares during the period. Long Focus Capital Management LLC grew its holdings in shares of Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after buying an additional 260,594 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after acquiring an additional 65,767 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SGHT. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital downgraded Sight Sciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Morgan Stanley cut their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.50.

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.