Polar Asset Management Partners Inc. Invests $1.61 Million in RxSight, Inc. (NASDAQ:RXST)

Polar Asset Management Partners Inc. bought a new position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 46,700 shares of the company's stock, valued at approximately $1,606,000. Polar Asset Management Partners Inc. owned 0.12% of RxSight at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA purchased a new stake in shares of RxSight during the fourth quarter worth about $34,000. State of Wyoming purchased a new stake in shares of RxSight during the fourth quarter worth about $37,000. Coppell Advisory Solutions LLC boosted its holdings 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 purchasing an additional 672 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of RxSight during the fourth quarter worth about $46,000. Finally, Global Retirement Partners LLC purchased a new stake in RxSight in the fourth quarter worth about $69,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RXST. Bank of America reaffirmed an "underperform" rating and set a $22.00 target price (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and set a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus reduced their price target on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Piper Sandler started coverage on shares of RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.90.

Insider Buying and Selling

In related news, Director Tamara Fountain sold 7,000 shares of the firm'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 approximately $637,428.03. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

RxSight Trading Down 7.3%

RXST stock traded down $1.18 on Friday, hitting $15.05. The company had a trading volume of 1,329,049 shares, compared to its average volume of 697,181. RxSight, Inc. has a 12-month low of $12.53 and a 12-month high of $60.81. The stock's 50-day simple moving average is $16.20 and its 200 day simple moving average is $27.77. The stock has a market cap of $611.59 million, a price-to-earnings ratio of -18.13 and a beta of 1.32.

RxSight (NASDAQ:RXST - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $37.90 million for the quarter, compared to analysts' expectations of $38.74 million. During the same quarter last year, the company posted ($0.25) earnings per share. The firm's quarterly revenue was up 28.5% on a year-over-year basis. Research analysts forecast that RxSight, Inc. will post -0.7 earnings per share 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.