Trexquant Investment LP Acquires 87,989 Shares of RxSight, Inc. $RXST

Key Points

• Trexquant Investment LP significantly expanded its shareholding in RxSight, Inc. by acquiring 87,989 shares, raising its ownership to 144,405 shares and a total value of approximately $3.65 million.
• Multiple institutional investors are adjusting their positions in RxSight, with 78.78% of the stock now held by such investors, reflecting increasing interest in the company.
• Wall Street analysts have downgraded their ratings and target prices for RxSight, with Jefferies setting a new target price of $9.00, indicating a decreased outlook for the stock.

Trexquant Investment LP increased its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 156.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,405 shares of the company's stock after purchasing an additional 87,989 shares during the period. Trexquant Investment LP owned 0.36% of RxSight worth $3,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new position in shares of RxSight during the fourth quarter valued at approximately $37,000. Russell Investments Group Ltd. lifted 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 acquiring an additional 2,525 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in RxSight during the fourth quarter valued at approximately $204,000. Summit Global Investments lifted 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 acquiring an additional 1,664 shares during the last quarter. Finally, AlphaQuest LLC lifted 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 acquiring an additional 3,357 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RXST shares. Jefferies Financial Group reissued a "hold" rating and set a $9.00 target price (down previously from $24.00) on shares of RxSight in a research report on Thursday, July 10th. Oppenheimer lowered shares of RxSight from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company lowered shares of RxSight from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $25.00 to $9.00 in a research note on Wednesday, July 9th. Stifel Nicolaus cut their price target on shares of RxSight from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley lowered shares of RxSight from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $20.00 to $9.00 in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, RxSight currently has an average rating of "Reduce" and a consensus target price of $10.00.

RxSight Price Performance

NASDAQ:RXST opened at $8.70 on Wednesday. The firm has a market capitalization of $356.00 million, a P/E ratio of -10.88 and a beta of 1.18. RxSight, Inc. has a 1-year low of $6.32 and a 1-year high of $57.53. The company's fifty day moving average price is $9.03 and its 200-day moving average price is $15.55.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The business had revenue of $33.64 million during the quarter, compared to analyst estimates of $39.78 million. RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The firm's revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) EPS. Equities analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

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.

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