Twinbeech Capital LP trimmed its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 86.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,236 shares of the company's stock after selling 80,403 shares during the quarter. Twinbeech Capital LP's holdings in RxSight were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new position in shares of RxSight during the 4th quarter worth about $34,000. State of Wyoming bought a new position in RxSight in the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC raised its holdings in RxSight by 108.9% in the 4th 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 period. Arcadia Investment Management Corp MI bought a new position in RxSight in the 4th quarter valued at about $46,000. Finally, Harbor Investment Advisory LLC bought a new position in RxSight in the 4th quarter valued at about $52,000. 78.78% of the stock is owned by institutional investors and hedge funds.
RxSight Price Performance
Shares of NASDAQ:RXST traded down $0.06 during trading hours on Wednesday, hitting $15.95. 98,382 shares of the company's stock traded hands, compared to its average volume of 686,644. The business has a fifty day moving average price of $16.74 and a 200-day moving average price of $28.39. RxSight, Inc. has a 1 year low of $12.53 and a 1 year high of $62.50. The firm has a market capitalization of $648.16 million, a P/E ratio of -19.21 and a beta of 1.32.
RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.03). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $37.90 million for the quarter, compared to the consensus estimate of $38.74 million. During the same period in the prior year, the firm posted ($0.25) earnings per share. The business's quarterly revenue was up 28.5% on a year-over-year basis. As a group, equities analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current year.
Wall Street Analyst Weigh In
RXST has been the subject of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $43.00 price objective on shares of RxSight in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $17.00 price objective (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Piper Sandler initiated coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price objective on the stock. Bank of America reissued an "underperform" rating and issued a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, RxSight currently has a consensus rating of "Hold" and an average price target of $37.90.
Get Our Latest Analysis on RXST
Insider Buying and Selling
In other news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 24,793 shares of the company's stock, valued at $637,428.03. This represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 9.36% of the company's stock.
RxSight Company Profile
(
Free Report)
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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