Jeremy B. Hayden, Chief Legal Officer of Sight Sciences , Inc. (NASDAQ:SGHT), recently sold 6,922 shares of the company's common stock. The transactions occurred on January 17, 2025, at a weighted average price of $2.781 per share, generating a total of $19,250. Following this sale, Hayden holds 145,091 shares directly. The transaction comes as the $148 million market cap company trades near its 52-week low of $2.67, having declined over 63% in the past six months. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value.
The sale was conducted to cover the tax liability associated with the vesting of restricted stock units. The shares were sold in multiple transactions, with prices ranging from $2.68 to $2.82. InvestingPro subscribers can access 10+ additional investment tips and a comprehensive Pro Research Report for deeper insights into the company's financial health and growth prospects.
In other recent news, Sight Sciences Inc. has experienced a series of significant developments. Lake Street Capital Markets has revised its price target for the company's stock, down from $5.00 to $3.00, following recent changes in Medicare coverage that have impacted the industry. Despite this, Sight Sciences has reported preliminary financial results for Q4 2024, indicating a slight increase in total revenue, driven by surgical glaucoma product sales.
The company has also secured an additional $5 million in loan funding from its existing credit facility with Hercules Capital (NYSE:HTGC), Inc. and affiliates. Moreover, a recent study has demonstrated the effectiveness of the company's OMNI Surgical System in reducing intraocular pressure in patients with primary open-angle glaucoma.
UBS has initiated coverage of Sight Sciences with a Buy rating, forecasting strong sales growth by 2026, particularly driven by the company's TearCare Dry Eye solution. These developments underscore the company's ongoing efforts to navigate industry challenges and capitalize on growth opportunities in its surgical glaucoma and dry eye business segments.
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