Atika Capital Management LLC Lowers Position in RxSight, Inc. (NASDAQ:RXST)

Atika Capital Management LLC trimmed its position in shares of RxSight, Inc. (NASDAQ:RXST) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,600 shares of the company’s stock after selling 2,000 shares during the quarter. RxSight accounts for approximately 1.5% of Atika Capital Management LLC’s portfolio, making the stock its 15th largest holding. Atika Capital Management LLC’s holdings in RxSight were worth $14,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP grew its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in RxSight by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares during the last quarter. Wells Fargo & Company MN grew its stake in RxSight by 1.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after purchasing an additional 445 shares during the period. MCIA Inc increased its position in shares of RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of RxSight by 4.0% during the 3rd quarter. MetLife Investment Management LLC now owns 20,525 shares of the company’s stock worth $1,015,000 after purchasing an additional 790 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Price Performance

RxSight stock opened at $16.26 on Friday. RxSight, Inc. has a one year low of $14.37 and a one year high of $66.54. The firm has a market capitalization of $658.38 million, a P/E ratio of -19.59 and a beta of 1.26. The business has a fifty day moving average price of $28.12 and a 200-day moving average price of $37.90.

RxSight (NASDAQ:RXST) last posted its earnings results 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). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million for the quarter, compared to analysts’ expectations of $40.23 million. Sell-side analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RXST shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 price target (down previously from $40.00) on shares of RxSight in a research report on Friday. Stifel Nicolaus decreased their price target on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. Bank of America reaffirmed an “underperform” rating and issued a $22.00 price target (down previously from $36.00) on shares of RxSight in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of RxSight in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.78.

Insider Activity at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction on 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 sale, the director now owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. This trade represents a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by corporate insiders.

RxSight 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.