David Badawi, Chief Technology Officer of Sight Sciences , Inc. (NASDAQ:SGHT), recently sold a portion of his holdings in the company. According to a recent SEC filing, Badawi sold 5,423 shares of common stock on January 17 at an average price of $2.781 per share. The total value of the transaction amounted to $15,081. The sale comes as the stock trades near its 52-week low of $2.67, having declined over 63% in the past six months. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.
The sale was conducted to cover tax liabilities related to the vesting of restricted stock units. Following the transaction, Badawi retains ownership of 1,744,118 shares in the company. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 10.18, while holding more cash than debt on its balance sheet. Discover 8 additional key insights about SGHT with an InvestingPro subscription, including detailed analysis in the comprehensive Pro Research Report.
In other recent news, Sight Sciences Inc. has been the subject of several key developments. First, the company has reported a modest rise in Q4 revenue, driven by sales of surgical glaucoma products, despite a 2% decline in annual revenue compared to the previous year. The company's OMNI Surgical System has also shown promise in reducing intraocular pressure in patients with primary open-angle glaucoma, as evidenced by a recent study.
Lake Street Capital Markets has revised Sight Sciences' price target from $5.00 to $3.00, in light of changes in Medicare coverage affecting the industry. The changes limit coverage for certain glaucoma procedures, which has impacted Sight Sciences' market share. Despite these challenges, the company has secured an additional $5 million in loan funding from Hercules Capital (NYSE:HTGC), Inc. and affiliates, raising the total borrowed amount to $40 million.
UBS has initiated coverage of Sight Sciences with a Buy rating, forecasting strong sales growth by 2026. They expect the company's TearCare Dry Eye solution to drive double-digit sales growth and gross margin expansion that exceeds consensus estimates for 2026 and beyond. These are among the recent developments at Sight Sciences.
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