Bullish indicating open at $55-$60, IPO prices at $37
Manohar K. Raheja, Executive Vice President of Research & Development at Sight Sciences , Inc. (NASDAQ:SGHT), has recently increased his stake in the company through a series of transactions. According to a recent SEC filing, Raheja purchased a total of 20,000 shares of Sight Sciences’ common stock over two days.
On March 12, Raheja acquired 10,000 shares at a weighted average price of $2.725 per share. The following day, he bought an additional 10,000 shares at $2.6 per share. These transactions amounted to a total purchase value of $53,250.
In addition to these purchases, Raheja received a grant of 24,000 restricted stock units (RSUs) on March 11. The RSUs were awarded under the company’s 2021 Incentive Award Plan and will vest in equal installments over four years, beginning January 15, 2026, contingent upon Raheja’s continued service with Sight Sciences.
Following these transactions, Raheja now holds a total of 155,000 shares in the company. Sight Sciences, headquartered in Menlo Park, California, specializes in developing medical devices for the treatment of ophthalmic diseases.
In other recent news, Sight Sciences Inc. reported its fourth-quarter 2024 earnings, revealing a slight miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.23, slightly below the forecasted -$0.22, and revenue of $19.1 million, which was under the expected $20.26 million. Despite the earnings miss, Sight Sciences saw a 2% year-over-year increase in total revenue, driven by a 9% growth in surgical glaucoma revenue. However, the dry eye segment experienced a notable decline, with revenue dropping to $300,000 from $1.6 million the previous year.
Stifel analysts recently adjusted their price target for Sight Sciences to $4.00 from $5.00, while maintaining a Buy rating on the company’s shares. This decision followed the company’s revenue report, which fell short of expectations due to challenges in the Surgical Glaucoma segment, exacerbated by changes in Medicare Local Coverage Determinations (LCDs). These challenges are expected to persist, with 2025 revenue guidance set between $70 million to $75 million, below Stifel’s projection.
The analysts remain optimistic about potential reimbursement for Sight Sciences’ TearCare product, anticipating catalysts from payers in 2025. They also highlighted the company’s strong balance sheet, which is expected to support its operations moving forward. As Sight Sciences continues to navigate market challenges, the focus remains on achieving equitable reimbursement for TearCare and expanding its presence in the dry eye treatment market.
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