Two Sigma Investments LP Cuts Stake in RxSight, Inc. (NASDAQ:RXST)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC purchased a new position in RxSight in the fourth quarter worth $355,000. State of Wyoming purchased a new position in RxSight in the fourth quarter worth $37,000. Sherbrooke Park Advisers LLC purchased a new position in RxSight in the fourth quarter worth $204,000. Silvercrest Asset Management Group LLC purchased a new position in RxSight in the fourth quarter worth $2,985,000. Finally, Royal Bank of Canada grew its holdings in RxSight by 3,094.6% in the fourth quarter. Royal Bank of Canada now owns 508,491 shares of the company's stock worth $17,481,000 after purchasing an additional 492,574 shares during the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RXST has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of RxSight in a report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $17.00 price objective (down from $40.00) on shares of RxSight in a research note on Friday, April 4th. Wells Fargo & Company upgraded shares of RxSight from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $17.00 to $25.00 in a research note on Monday, May 19th. Needham & Company LLC reiterated a "buy" rating and set a $43.00 price objective on shares of RxSight in a research note on Thursday, April 3rd. Finally, Stifel Nicolaus lowered their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, RxSight presently has a consensus rating of "Hold" and a consensus price target of $37.90.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the company's 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 completion of the transaction, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.36% of the stock is currently owned by insiders.

RxSight Stock Performance

NASDAQ RXST traded down $1.18 on Friday, reaching $15.05. 1,329,049 shares of the company's stock traded hands, compared to its average volume of 695,961. The firm has a market cap of $611.59 million, a price-to-earnings ratio of -18.13 and a beta of 1.32. The stock has a 50 day moving average price of $16.20 and a 200-day moving average price of $27.89. RxSight, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $60.81.

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

RxSight Company 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.