Insider Buying at Sight Sciences, Inc.

Sight Sciences, Inc. (NASDAQ:SGHT) has seen recent significant insider activity, specifically involving executive vice president Manohar K. Raheja. On March 12th, he bought 10,000 shares of the company's stock at an average price of $2.73 per share. This transaction totaled $27,300. Following this acquisition, Raheja now directly owns 145,000 shares, which are valued at about $395,850. This purchase marks a 7.41% increase in his stake in the company. The details of the transaction were disclosed through a filing with the Securities and Exchange Commission (SEC).

Sight Sciences Stock Performance

On Thursday, Sight Sciences shares fell by $0.29, bringing the stock price down to $2.40. The trading volume for the day reached 315,665 shares, exceeding the average volume of 281,056 shares. The company's financial ratios include a debt-to-equity ratio of 0.36, a current ratio of 10.18, and a quick ratio of 9.74. Over the past year, the stock has seen a low of $2.17 and a high of $8.45. Sight Sciences has a market capitalization of $121.81 million and a price-to-earnings ratio of -2.35, with a beta value of 2.52. The technical indicators include a 50-day moving average price of $2.82 and a 200-day moving average price of $4.30.

Recent Earnings Report

On March 5th, Sight Sciences released its quarterly earnings report, revealing an earnings per share (EPS) of ($0.23), which fell short of analyst expectations of ($0.22) by a narrow margin. The company's revenue for the quarter was $19.07 million, slightly exceeding the consensus estimate of $18.98 million. Unfortunately, the company reported a negative net margin of 63.30% and a negative return on equity of 47.28%. This quarterly performance compares to an EPS of ($0.22) from the same period last year. Analysts predict that Sight Sciences will report an EPS of -0.99 for the fiscal year.

Analyst Insights

Several analysts have been active in revising their assessments of Sight Sciences. Needham & Company LLC maintained a "hold" rating on the company stock on March 6th. In the same week, Piper Sandler adjusted its price target from $5.50 to $3.50 and maintained a "neutral" rating. Citigroup also lowered its price target from $4.60 to $3.00 with a neutral outlook. Stifel Nicolaus modified its target from $5.00 to $4.00 while keeping a "buy" rating. Lastly, UBS Group reduced its target from $5.50 to $5.00 but still rated the stock as a buy. Currently, five analysts show a hold rating while two have a buy rating for the stock, which, according to MarketBeat.com, results in an average target price of $3.83.

Institutional Investor Activity

Institutional investors have also been active in buying and selling Sight Sciences shares. KCK LTD. acquired a new stake in the company valued at $15,925,000 in the fourth quarter. Meanwhile, Long Focus Capital Management LLC increased its stake by 158.8%, owning now over 2.2 million shares valued at about $8.15 million. Prosight Management LP grew its stake by 71.1%, now holding approximately 908,847 shares worth $3.31 million. Geode Capital Management LLC increased its shareholding by 1.1%, with a new total of 792,860 shares valued at $2.89 million. Finally, State Street Corp also increased its stake by 17.4%, now holding about 646,776 shares valued at approximately $4.08 million. Overall, institutional investors now own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc. is a medical device company that specializes in ophthalmic technologies for treating eye diseases. The company operates in two main areas: Surgical Glaucoma and Dry Eye. Its notable products include the OMNI Surgical System—developed for glaucoma surgery—and the SION Surgical Instrument, which is designed for various ophthalmic surgical procedures.

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