Oberweis Asset Management Inc. Reduces Position in RxSight, Inc. (NASDAQ:RXST)

Oberweis Asset Management Inc. lowered its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 85.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,040 shares of the company's stock after selling 107,600 shares during the period. Oberweis Asset Management Inc.'s holdings in RxSight were worth $655,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. DF Dent & Co. Inc. purchased a new stake in shares of RxSight in the 4th quarter valued at approximately $14,524,000. Artisan Partners Limited Partnership boosted its position in shares of RxSight by 32.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after buying an additional 381,389 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of RxSight by 196.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 359,144 shares of the company's stock valued at $12,346,000 after buying an additional 237,877 shares during the period. Renaissance Technologies LLC raised its holdings in shares of RxSight by 102.9% in the 4th quarter. Renaissance Technologies LLC now owns 361,500 shares of the company's stock valued at $12,428,000 after buying an additional 183,300 shares during the period. Finally, Altium Capital Management LLC lifted its stake in RxSight by 154.5% during the 4th quarter. Altium Capital Management LLC now owns 285,000 shares of the company's stock worth $9,798,000 after acquiring an additional 173,000 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Price Performance

Shares of RXST traded down $0.59 during mid-day trading on Wednesday, reaching $14.65. The company's stock had a trading volume of 266,481 shares, compared to its average volume of 636,280. RxSight, Inc. has a 12-month low of $13.50 and a 12-month high of $66.54. The stock has a market cap of $595.08 million, a PE ratio of -17.65 and a beta of 1.26. The company's 50 day moving average is $21.52 and its 200 day moving average is $33.37.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). The company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. As a group, sell-side analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Insider Transactions at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the 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 sale, the director now owns 24,793 shares in the company, valued at $637,428.03. This represents a 22.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RXST. Piper Sandler started coverage on shares of RxSight in a research note on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $17.00 target price (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Wells Fargo & Company decreased their price target on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. Stifel Nicolaus cut their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, March 19th. Finally, UBS Group cut RxSight from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $45.00 to $16.00 in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $37.60.

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.