Readystate Asset Management LP Purchases New Position in RxSight, Inc. (NASDAQ:RXST)

Readystate Asset Management LP purchased a new stake in RxSight, Inc. (NASDAQ:RXST) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,060 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors have also bought and sold shares of the company. RiverPark Advisors LLC boosted its stake in RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in RxSight in the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new position in RxSight in the third quarter worth $32,000. UBS Group AG increased its holdings in RxSight by 413.6% in the fourth quarter. UBS Group AG now owns 5,388 shares of the company’s stock valued at $68,000 after purchasing an additional 4,339 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in RxSight in the third quarter valued at about $69,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

RXST has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of RxSight in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer increased their price target on RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Stifel Nicolaus increased their price target on RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, RxSight currently has an average rating of “Buy” and a consensus target price of $49.63.

RxSight Trading Down 2.0 %

Shares of RXST stock traded down $1.08 on Thursday, hitting $51.75. 397,195 shares of the stock were exchanged, compared to its average volume of 437,776. The firm has a market capitalization of $1.91 billion, a P/E ratio of -36.19 and a beta of 1.22. The business has a 50-day moving average of $52.50 and a 200 day moving average of $40.62. RxSight, Inc. has a fifty-two week low of $17.00 and a fifty-two week high of $58.21.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.10. The company had revenue of $28.58 million during the quarter, compared to analysts’ expectations of $28.60 million. RxSight had a negative return on equity of 31.16% and a negative net margin of 54.57%. As a group, research analysts forecast that RxSight, Inc. will post -0.94 EPS for the current fiscal year.

Insider Transactions at RxSight

In other news, insider Eric Weinberg sold 10,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now directly owns 309,978 shares of the company’s stock, valued at $14,878,944. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RxSight news, Director Bakker Juliet Tammenoms acquired 4,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $50.38 per share, with a total value of $201,520.00. Following the completion of the transaction, the director now directly owns 25,840 shares in the company, valued at approximately $1,301,819.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Weinberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 309,978 shares of the company’s stock, valued at $14,878,944. The disclosure for this sale can be found here. Insiders sold 141,641 shares of company stock valued at $6,988,022 over the last three months. Company insiders own 21.13% of the company’s stock.

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.