Balyasny Asset Management L.P. Buys Shares of 23,978 RxSight, Inc. (NASDAQ:RXST)

Balyasny Asset Management L.P. purchased a new position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,978 shares of the company's stock, valued at approximately $824,000. Balyasny Asset Management L.P. owned about 0.06% of RxSight at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock valued at $81,946,000 after purchasing an additional 96,464 shares in the last quarter. Bank of America Corp DE increased its stake in RxSight by 23.7% in the fourth quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock valued at $74,258,000 after purchasing an additional 413,737 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in RxSight by 32.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock valued at $53,345,000 after purchasing an additional 381,389 shares in the last quarter. Geode Capital Management LLC increased its stake in RxSight by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 830,758 shares of the company's stock valued at $28,568,000 after purchasing an additional 13,641 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new stake in RxSight in the fourth quarter valued at approximately $14,524,000. 78.78% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Tamara Fountain sold 7,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now directly owns 24,793 shares of the company's stock, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.36% of the company's stock.

Wall Street Analyst Weigh In

RXST has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group cut shares of RxSight from a "buy" rating to a "neutral" rating and reduced their price target for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Piper Sandler initiated coverage on shares of RxSight in a report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.60.

RxSight Stock Up 6.6%

Shares of RXST traded up $0.88 during trading hours on Friday, hitting $14.19. The company had a trading volume of 862,724 shares, compared to its average volume of 673,976. The firm has a market cap of $576.64 million, a price-to-earnings ratio of -17.10 and a beta of 1.32. The business has a fifty day moving average of $18.08 and a 200-day moving average of $30.10. RxSight, Inc. has a 12 month low of $12.53 and a 12 month high of $64.50.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company's revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) earnings per share. On average, equities analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

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.