Two Sigma Advisers LP Trims Holdings in RxSight, Inc. (NASDAQ:RXST)

Two Sigma Advisers LP trimmed its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 36.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,000 shares of the company's stock after selling 74,800 shares during the quarter. Two Sigma Advisers LP owned about 0.33% of RxSight worth $4,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RXST. Barclays PLC boosted its position in shares of RxSight by 389.8% during the 3rd quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after acquiring an additional 46,783 shares during the last quarter. KBC Group NV raised its stake in RxSight by 71.0% in the fourth quarter. KBC Group NV now owns 2,107 shares of the company's stock valued at $72,000 after purchasing an additional 875 shares in the last quarter. Van ECK Associates Corp raised its stake in RxSight by 46.7% in the fourth quarter. Van ECK Associates Corp now owns 3,265 shares of the company's stock valued at $112,000 after purchasing an additional 1,040 shares in the last quarter. Rhumbline Advisers lifted its position in RxSight by 3.6% during the fourth quarter. Rhumbline Advisers now owns 48,473 shares of the company's stock valued at $1,666,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in RxSight by 10.8% in the 4th quarter. Principal Financial Group Inc. now owns 39,925 shares of the company's stock worth $1,373,000 after buying an additional 3,879 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RXST. Bank of America restated an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Needham & Company LLC restated a "buy" rating and set a $43.00 price target on shares of RxSight in a research report on Thursday, April 3rd. UBS Group lowered 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. Piper Sandler began coverage on RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of RxSight from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $17.00 to $25.00 in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.90.

Insider Activity at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This trade represents a 22.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by company insiders.

RxSight Stock Down 4.3%

Shares of RxSight stock traded down $0.69 on Friday, hitting $15.54. The stock had a trading volume of 235,366 shares, compared to its average volume of 689,980. RxSight, Inc. has a one year low of $12.53 and a one year high of $61.10. The stock's 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $28.10. The stock has a market cap of $631.50 million, a price-to-earnings ratio of -18.77 and a beta of 1.32.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $37.90 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.25) EPS. As a group, equities analysts predict that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

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.