Jeremy Hayden, the Chief Legal Officer of Sight Sciences , Inc. (NASDAQ:), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Hayden sold 1,810 shares of common stock on January 8, 2025. The shares were sold at an average price of $3.259 each, amounting to a total transaction value of approximately $5,898. The transaction comes as the stock trades near its 52-week low of $3.20, having declined about 46% over the past six months. According to InvestingPro analysis, the company currently appears fairly valued.
The sale was conducted to cover tax liabilities associated with the vesting of restricted stock units, as noted in the filing. Following the transaction, Hayden retains ownership of 152,013 shares in the company. Sight Sciences is based in Menlo Park, California, and specializes in surgical and medical instruments and apparatus. With a market capitalization of $168.5 million, the company maintains strong liquidity with a current ratio of 10.18. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of the company’s financial health and market position.
In other recent news, Sight Sciences Inc. has made significant progress in glaucoma care with the OMNI Surgical System, demonstrating effectiveness in reducing intraocular pressure in patients over a 36-month period. The company also secured an additional $5 million in loan funding from Hercules Capital (NYSE:), Inc., increasing the total borrowed amount to $40 million. UBS has initiated coverage of Sight Sciences, projecting strong sales growth by 2026, particularly for the company’s TearCare Dry Eye solution. However, Sight Sciences is currently contesting the final 2025 Medicare payment rule, which did not grant device-intensive status to OMNI procedures. These are recent developments in the company’s operations and financial performance.
In the third quarter, Sight Sciences reported a slight increase in revenue year-over-year to $20.2 million, despite a sequential decrease in surgical glaucoma revenue of 8% and a 4% decline in dry eye revenue. The company maintains a strong gross profit margin of 85% and generates annual revenue of nearly $80 million.
UBS analysts anticipate that the TearCare Dry Eye solution will drive double-digit sales growth and gross margin expansion that exceeds consensus estimates for 2026 and beyond. These are recent developments that have been reported, providing insight into Sight Sciences’ operations and financial health.
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Article by:Source- Investing.com
