Insider Selling: RxSight, Inc. (NASDAQ:RXST) Director Sells 7,000 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $25.84 on Friday. The stock has a fifty day moving average price of $30.56 and a two-hundred day moving average price of $41.09. The firm has a market cap of $1.05 billion, a P/E ratio of -31.13 and a beta of 1.22. RxSight, Inc. has a 1 year low of $24.64 and a 1 year high of $66.54.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The firm had revenue of $40.21 million for the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. On average, research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in RxSight during the 4th quarter valued at $1,606,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of RxSight by 23.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,958 shares of the company’s stock valued at $2,921,000 after acquiring an additional 16,140 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of RxSight by 138.9% during the 4th quarter. Voloridge Investment Management LLC now owns 365,617 shares of the company’s stock valued at $12,570,000 after acquiring an additional 212,599 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of RxSight by 12.5% during the 4th quarter. Squarepoint Ops LLC now owns 133,125 shares of the company’s stock valued at $4,577,000 after acquiring an additional 14,799 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of RxSight during the 4th quarter valued at $355,000. 78.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

RXST has been the subject of several recent research reports. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. Stifel Nicolaus lowered their target price on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of RxSight in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

About RxSight

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.