Two Sigma Investments LP Sells 154,871 Shares of RxSight, Inc. (NASDAQ:RXST)

Two Sigma Investments LP lessened its holdings in RxSight, Inc. (NASDAQ:RXST - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,352 shares of the company's stock after selling 154,871 shares during the quarter. Two Sigma Investments LP owned 0.32% of RxSight worth $4,378,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Private Trust Co. NA acquired a new stake in RxSight in the 4th quarter valued at $34,000. State of Wyoming bought a new position in shares of RxSight in the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC increased its position in shares of 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 shares of RxSight in the fourth quarter valued at about $46,000. Finally, Global Retirement Partners LLC bought a new stake in RxSight during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Price Performance

RXST stock traded down $1.18 during midday trading on Friday, reaching $15.05. 1,329,049 shares of the company were exchanged, compared to its average volume of 697,181. RxSight, Inc. has a one year low of $12.53 and a one year high of $60.81. The firm has a market capitalization of $611.59 million, a price-to-earnings ratio of -18.13 and a beta of 1.32. The business has a 50-day moving average price of $16.20 and a two-hundred day moving average price of $27.66.

RxSight (NASDAQ:RXST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) 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 business had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. RxSight's revenue was up 28.5% compared to the same quarter last year. As a group, analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RXST shares. Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $17.00 to $25.00 in a research note on Monday, May 19th. Stifel Nicolaus cut their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. Bank of America restated an "underperform" rating and set a $22.00 target price (down from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Piper Sandler assumed coverage on shares of RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $37.90.

Insiders Place Their Bets

In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.36% of the company's stock.

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.