Twinbeech Capital LP Reduces Holdings in RxSight, Inc. (NASDAQ:RXST)

Twinbeech Capital LP lowered its position 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 & Exchange Commission. The firm owned 12,236 shares of the company's stock after selling 80,403 shares during the period. Twinbeech Capital LP's holdings in RxSight were worth $421,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in shares of RxSight by 389.8% during the third quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after purchasing an additional 46,783 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of RxSight during the fourth quarter valued at approximately $69,000. Vanguard Group Inc. raised its stake in shares of RxSight by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock valued at $81,946,000 after purchasing an additional 96,464 shares during the period. Bank of New York Mellon Corp increased its stake in shares of RxSight by 10.0% in the fourth quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock worth $3,537,000 after buying an additional 9,385 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of RxSight by 46.7% in the fourth quarter. Van ECK Associates Corp now owns 3,265 shares of the company's stock worth $112,000 after buying an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares of the company's stock, valued at approximately $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RXST shares. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $45.00 to $16.00 in a research note on Wednesday, April 9th. Bank of America restated an "underperform" rating and issued a $22.00 price target (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. restated 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. Wells Fargo & Company upgraded shares of RxSight from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $17.00 to $25.00 in a research note on Monday. Finally, Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $37.90.

RxSight Price Performance

RXST stock opened at $15.89 on Friday. RxSight, Inc. has a 1-year low of $12.53 and a 1-year high of $62.88. The firm has a fifty day moving average price of $17.31 and a two-hundred day moving average price of $29.29. The firm has a market cap of $645.72 million, a price-to-earnings ratio of -19.14 and a beta of 1.32.

RxSight (NASDAQ:RXST - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting 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 firm had revenue of $37.90 million during the quarter, compared to analyst estimates of $38.74 million. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. The firm's revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, analysts expect 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.

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