Armistice Capital LLC Invests $3.59 Million in RxSight, Inc. $RXST

Key Points

• Armistice Capital LLC has invested approximately $3.59 million in RxSight, Inc., acquiring 142,036 shares and holding about 0.35% of the company's stock.
• Several hedge funds have significantly increased their holdings in RxSight during the 1st quarter, contributing to over 78% institutional ownership of the company's stock.
• Analysts show mixed sentiments towards RxSight, with Bank of America reducing its price target from $18.00 to $9.00 and a consensus rating of "Reduce" with an average price target of $10.00.

Armistice Capital LLC purchased a new stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 142,036 shares of the company's stock, valued at approximately $3,586,000. Armistice Capital LLC owned about 0.35% of RxSight at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RXST. Bank of New York Mellon Corp raised its position in shares of RxSight by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 103,659 shares of the company's stock worth $2,617,000 after acquiring an additional 777 shares in the last quarter. State of Wyoming grew its stake in RxSight by 91.5% in the first quarter. State of Wyoming now owns 2,062 shares of the company's stock worth $52,000 after purchasing an additional 985 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in RxSight by 5.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,629 shares of the company's stock worth $709,000 after purchasing an additional 1,001 shares in the last quarter. MetLife Investment Management LLC raised its holdings in RxSight by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 21,954 shares of the company's stock worth $755,000 after purchasing an additional 1,429 shares in the last quarter. Finally, Summit Global Investments raised its holdings in RxSight by 24.7% in the first quarter. Summit Global Investments now owns 8,393 shares of the company's stock worth $212,000 after purchasing an additional 1,664 shares in the last quarter. Institutional investors own 78.78% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RXST. Morgan Stanley downgraded RxSight from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $20.00 to $9.00 in a report on Tuesday, July 15th. Piper Sandler decreased their price objective on RxSight from $18.00 to $10.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Jefferies Financial Group reiterated a "hold" rating and issued a $9.00 price objective (down previously from $24.00) on shares of RxSight in a report on Thursday, July 10th. Wells Fargo & Company lowered RxSight from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $25.00 to $9.00 in a research report on Wednesday, July 9th. Finally, Needham & Company LLC reduced their price objective on RxSight from $22.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, RxSight currently has a consensus rating of "Reduce" and an average target price of $10.00.

RxSight Stock Up 5.0%

Shares of RxSight stock traded up $0.42 on Friday, reaching $8.89. The company's stock had a trading volume of 1,351,570 shares, compared to its average volume of 1,053,234. The company has a market capitalization of $363.74 million, a price-to-earnings ratio of -11.11 and a beta of 1.18. The firm's fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $15.36. RxSight, Inc. has a 52 week low of $6.32 and a 52 week high of $57.53.

RxSight (NASDAQ:RXST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The business had revenue of $33.64 million during the quarter, compared to the consensus estimate of $39.78 million. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS. As a group, research analysts predict that RxSight, Inc. will post -0.7 EPS for the current 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.