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

Polar Asset Management Partners Inc. bought a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 46,700 shares of the company's stock, valued at approximately $1,606,000. Polar Asset Management Partners Inc. owned approximately 0.12% of RxSight as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Private Trust Co. NA acquired a new stake in RxSight in the 4th quarter valued at about $34,000. State of Wyoming bought a new stake in shares of RxSight during the fourth quarter worth $37,000. Coppell Advisory Solutions LLC boosted its holdings in RxSight by 108.9% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after acquiring an additional 672 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in RxSight in the fourth quarter worth about $46,000. Finally, Global Retirement Partners LLC bought a new stake in RxSight during the 4th quarter worth about $69,000. 78.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 9.36% of the company's stock.

RxSight Stock Up 0.8%

Shares of RXST traded up $0.13 during trading hours on Thursday, reaching $16.23. The stock had a trading volume of 592,377 shares, compared to its average volume of 690,032. The company has a market cap of $659.54 million, a P/E ratio of -19.55 and a beta of 1.32. RxSight, Inc. has a 52 week low of $12.53 and a 52 week high of $61.10. The firm has a 50-day moving average of $16.57 and a 200 day moving average of $28.31.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly 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 return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. During the same period in the prior year, the company earned ($0.25) earnings per share. The company's revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, equities analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RXST. Bank of America reaffirmed an "underperform" rating and issued 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 reaffirmed a "buy" rating and set a $43.00 target price on shares of RxSight in a report on Thursday, April 3rd. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $17.00 price target (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and upped their price objective for the company 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 given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.