Point72 Asset Management L.P. Lowers Holdings in RxSight, Inc. (NASDAQ:RXST)

Point72 Asset Management L.P. decreased its position in RxSight, Inc. (NASDAQ:RXST - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,732 shares of the company's stock after selling 55,244 shares during the quarter. Point72 Asset Management L.P. owned 0.97% of RxSight worth $13,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RXST. DF Dent & Co. Inc. bought a new stake in RxSight in the 4th quarter worth approximately $14,524,000. Bank of America Corp DE increased its stake in RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after acquiring an additional 413,737 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after acquiring an additional 381,389 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in RxSight by 196.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company's stock worth $12,346,000 after acquiring an additional 237,877 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in RxSight in the 4th quarter worth approximately $6,855,000. Institutional investors own 78.78% of the company's stock.

Insider Buying and Selling at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RXST shares. Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $17.00 to $25.00 in a research report on Monday, May 19th. Piper Sandler started coverage on RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 target price on the stock. Bank of America reissued an "underperform" rating and set a $22.00 target price (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and cut their target price for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $43.00 target price on shares of RxSight in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $37.90.

RxSight Stock Performance

RxSight stock traded down $0.21 during mid-day trading on Friday, hitting $15.68. The company's stock had a trading volume of 670,247 shares, compared to its average volume of 689,322. The company has a 50 day moving average of $17.11 and a 200-day moving average of $28.86. The stock has a market cap of $637.19 million, a PE ratio of -18.89 and a beta of 1.32. RxSight, Inc. has a one year low of $12.53 and a one year high of $62.50.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $37.90 million for the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. RxSight's quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS. On average, equities research analysts forecast 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.