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Sight Sciences , Inc. (NASDAQ:SGHT), a medical device company with a market capitalization of $173 million, saw its Chief Financial Officer Alison Bauerlein recently sell 10,102 shares of the company's common stock. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt. The shares were sold at a weighted average price of $3.522, totaling approximately $35,579, near the stock's 52-week low of $3.30. This transaction was carried out to cover the tax liability associated with the vesting of restricted stock units. Following the sale, Bauerlein retains ownership of 382,453 shares in the company. The shares were sold in multiple transactions with prices ranging from $3.465 to $3.58, amid a challenging period that has seen the stock decline 45% over the past six months. For comprehensive insider trading analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Sight Sciences, a medical device company, has secured an additional $5 million in loan funding from its existing credit facility with Hercules Capital (NYSE:HTGC), Inc., bringing the total borrowed amount to $40 million. The company maintains a strong liquidity position with cash reserves exceeding its total debt obligations. The loan, part of a senior secured term loan facility potentially reaching up to $65 million, is set to mature on July 1, 2028. Sight Sciences also issued warrants to the lenders, allowing them to purchase shares of the company's common stock.
In recent developments, Sight Sciences reported a slight year-over-year revenue increase in its third-quarter earnings to $20.2 million, despite a sequential decrease in surgical glaucoma revenue and dry eye revenue. UBS initiated coverage of Sight Sciences with a Buy rating, forecasting strong sales growth by 2026. The UBS analyst expects the company's TearCare Dry Eye solution to drive significant sales growth and gross margin expansion beyond consensus estimates for 2026.
Despite current setbacks, Sight Sciences plans to enhance sales performance and strategic positioning, remaining optimistic about growth in the surgical glaucoma and dry eye segments in 2025. The company is contesting the final 2025 Medicare payment rule, which did not grant device-intensive status to OMNI procedures.
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