RxSight (NASDAQ:RXST) COO Ilya Goldshleger Sells 2,041 Shares of Stock

Key Points

• RxSight COO Ilya Goldshleger sold 2,041 shares at an average price of $6.96, generating $14,205.36. The sale covered tax withholding obligations tied to vested equity awards, reducing his holdings by 2.44% to 81,509 shares.
• RxSight shares rose 0.6% to $7.03, with the company valued at approximately $292.4 million. Its stock has traded between $4.48 and $13.22 over the past year.
• The company recently exceeded quarterly expectations, reporting a loss of $0.29 per share versus the projected $0.33 loss and revenue of $33.74 million. Analyst sentiment remains cautious, with an average “Reduce” rating and an average price target of $8.37.

RxSight, Inc. (NASDAQ:RXST - Get Free Report) COO Ilya Goldshleger sold 2,041 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $14,205.36. Following the completion of the sale, the chief operating officer owned 81,509 shares in the company, valued at $567,302.64. This represents a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Trading Up 0.6%

NASDAQ:RXST traded up $0.04 during midday trading on Wednesday, hitting $7.03. 778,865 shares of the company traded hands, compared to its average volume of 898,096. The firm has a market capitalization of $292.40 million, a P/E ratio of -6.22 and a beta of 1.16. RxSight, Inc. has a 12-month low of $4.48 and a 12-month high of $13.22. The firm's fifty day moving average is $5.95 and its 200-day moving average is $6.35.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. The company had revenue of $33.74 million for the quarter, compared to the consensus estimate of $32.55 million. On average, research analysts expect that RxSight, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RXST shares. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of RxSight in a report on Tuesday, July 7th. Bank of America dropped their price objective on shares of RxSight from $8.00 to $6.50 and set an "underperform" rating for the company in a report on Tuesday, July 7th. Stifel Nicolaus decreased their price objective on shares of RxSight from $8.00 to $7.00 and set a "hold" rating for the company in a research report on Monday, August 10th. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research report on Tuesday, July 7th. Finally, UBS Group boosted their price objective on RxSight from $5.50 to $6.30 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $8.37.

Institutional Trading of RxSight

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of RxSight in the 2nd quarter worth $28,000. Summit Securities Group LLC purchased a new position in shares of RxSight in the first quarter valued at $30,000. Larson Financial Group LLC grew its stake in shares of RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock valued at $36,000 after acquiring an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock worth $39,000 after purchasing an additional 3,063 shares during the last quarter. Finally, CWM LLC raised its holdings in RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company's stock valued at $40,000 after acquiring an additional 2,596 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source