RA Capital Management L.P. Reduces Position in RxSight, Inc. (NASDAQ:RXST)

RA Capital Management L.P. lessened its holdings in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,743,018 shares of the company's stock after selling 173,807 shares during the quarter. RxSight comprises 1.7% of RA Capital Management L.P.'s portfolio, making the stock its 15th biggest holding. RA Capital Management L.P. owned 9.29% of RxSight worth $128,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA bought a new stake in RxSight in the fourth quarter worth $34,000. Coppell Advisory Solutions LLC raised its holdings in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after buying an additional 672 shares during the period. Arcadia Investment Management Corp MI bought a new stake in RxSight in the fourth quarter worth $46,000. Harbor Investment Advisory LLC purchased a new stake in shares of RxSight in the fourth quarter valued at $52,000. Finally, Global Retirement Partners LLC purchased a new position in shares of RxSight during the 4th quarter worth about $69,000. Institutional investors own 78.78% of the company's stock.

RxSight Stock Performance

RXST stock traded down $0.88 on Tuesday, hitting $13.76. 413,976 shares of the company's stock were exchanged, compared to its average volume of 648,847. 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 $558.77 million, a P/E ratio of -16.58 and a beta of 1.32. The firm has a 50 day moving average price of $20.38 and a two-hundred day moving average price of $32.27.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RXST shares. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and cut their target price for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a research note on Friday, April 4th. Wells Fargo & Company lowered their target price on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Bank of America restated an "underperform" rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Finally, Stifel Nicolaus reduced their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $37.60.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction dated Wednesday, March 12th. The stock was 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 in the company, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.36% of the stock is owned by insiders.

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.