D. E. Shaw & Co. Inc. Decreases Stock Holdings in RxSight, Inc. (NASDAQ:RXST)

D. E. Shaw & Co. Inc. cut its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 90.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,570 shares of the company's stock after selling 87,421 shares during the period. D. E. Shaw & Co. Inc.'s holdings in RxSight were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RXST. Deutsche Bank AG increased its stake in shares of RxSight by 1.6% during the fourth quarter. Deutsche Bank AG now owns 657,224 shares of the company's stock worth $22,595,000 after purchasing an additional 10,634 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of RxSight by 220.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 220,028 shares of the company's stock worth $7,565,000 after purchasing an additional 151,358 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of RxSight during the 4th quarter worth approximately $824,000. Bank of America Corp DE lifted its holdings in RxSight by 23.7% during the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company's stock worth $74,258,000 after buying an additional 413,737 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in RxSight during the 4th quarter worth approximately $6,128,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

RxSight stock traded up $0.13 during midday trading on Thursday, hitting $16.23. 592,377 shares of the company's stock were exchanged, compared to its average volume of 870,260. RxSight, Inc. has a 12-month low of $12.53 and a 12-month high of $61.10. The stock has a market cap of $659.54 million, a price-to-earnings ratio of -19.55 and a beta of 1.32. The firm's 50 day simple moving average is $16.57 and its 200 day simple moving average is $28.31.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RXST shares. Needham & Company LLC restated a "buy" rating and issued a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $17.00 target price (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Piper Sandler initiated coverage on shares of RxSight in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 target price on the stock. Bank of America reaffirmed an "underperform" rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Finally, UBS Group downgraded shares of RxSight from a "buy" rating to a "neutral" rating and dropped their target price for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $37.90.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction dated 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 of the company's stock, valued at $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.36% of the company's stock.

RxSight Profile

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.