RxSight, Inc. $RXST Stock Holdings Lifted by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in RxSight, Inc. by 51.6% during the 1st quarter, now owning 333,617 shares valued at $8.424 million.
• RxSight's stock has declined 3.8%, trading at $8.70 with a market capitalization of $356 million and a reported EPS of ($0.08) for the most recent quarter.
• Analysts have revised their price targets for RxSight, with Stifel Nicolaus lowering theirs from $9.00 to $8.00, reflecting a cautious outlook on the stock.

Cubist Systematic Strategies LLC lifted its position in RxSight, Inc. (NASDAQ:RXST - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,617 shares of the company's stock after acquiring an additional 113,589 shares during the period. Cubist Systematic Strategies LLC owned about 0.82% of RxSight worth $8,424,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State of Wyoming purchased a new position in shares of RxSight in the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. grew its position in RxSight by 161.2% during the first quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock valued at $103,000 after purchasing an additional 2,525 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in RxSight during the fourth quarter valued at approximately $204,000. Summit Global Investments grew its position in RxSight by 24.7% during the first quarter. Summit Global Investments now owns 8,393 shares of the company's stock valued at $212,000 after purchasing an additional 1,664 shares in the last quarter. Finally, AlphaQuest LLC grew its position in RxSight by 66.0% during the first quarter. AlphaQuest LLC now owns 8,443 shares of the company's stock valued at $213,000 after purchasing an additional 3,357 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Stock Down 3.8%

RXST stock opened at $8.70 on Wednesday. The company has a market capitalization of $356.00 million, a price-to-earnings ratio of -10.88 and a beta of 1.18. RxSight, Inc. has a 12 month low of $6.32 and a 12 month high of $57.53. The firm has a 50 day moving average of $9.03 and a two-hundred day moving average of $15.55.

RxSight (NASDAQ:RXST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The business had revenue of $33.64 million during the quarter, compared to the consensus estimate of $39.78 million. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The business's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) earnings per share. On average, research analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on RXST. Stifel Nicolaus lowered their price objective on shares of RxSight from $9.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Needham & Company LLC lowered their price objective on shares of RxSight from $22.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. UBS Group lowered their price objective on shares of RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded shares of RxSight from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company downgraded shares of RxSight from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $25.00 to $9.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $10.00.

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.

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