Point72 Asset Management L.P. Sells 55,244 Shares of RxSight, Inc. (NASDAQ:RXST)

Point72 Asset Management L.P. cut its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 12.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 391,732 shares of the company's stock after selling 55,244 shares during the period. Point72 Asset Management L.P. owned 0.97% of RxSight worth $13,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RXST. Private Trust Co. NA acquired a new position in RxSight in the 4th quarter worth $34,000. Coppell Advisory Solutions LLC boosted its position in shares of RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after buying an additional 672 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in RxSight in the fourth quarter worth approximately $46,000. Harbor Investment Advisory LLC acquired a new stake in RxSight in the fourth quarter worth approximately $52,000. Finally, Global Retirement Partners LLC bought a new position in shares of RxSight in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Stock Down 1.3%

RXST stock traded down $0.21 during midday trading on Friday, reaching $15.68. The company's stock had a trading volume of 670,247 shares, compared to its average volume of 687,803. The business's 50-day simple moving average is $17.11 and its 200-day simple moving average is $29.04. 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 52 week low of $12.53 and a 52 week high of $62.88.

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

Insider Transactions at RxSight

In other RxSight news, 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RXST has been the topic of several research reports. Bank of America reaffirmed an "underperform" rating and issued a $22.00 price target (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $17.00 price target (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. Piper Sandler began coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. Finally, Wells Fargo & Company upgraded shares of RxSight from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $17.00 to $25.00 in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $37.90.

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.