Insider Selling: RxSight, Inc. (NASDAQ:RXST) Director Sells 7,000 Shares of Stock

RxSight, Inc. (NASDAQ:RXST) Director Tamara Fountain sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total value of $179,970.00. Following the transaction, the director now owns 24,793 shares in the company, valued at $637,428.03. The trade was a 22.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

RxSight Stock Performance

Shares of NASDAQ RXST traded down $0.85 during trading on Thursday, hitting $25.22. The company had a trading volume of 291,254 shares, compared to its average volume of 528,134. The company has a market cap of $1.02 billion, a P/E ratio of -30.39 and a beta of 1.22. RxSight, Inc. has a 52 week low of $24.64 and a 52 week high of $66.54. The business’s 50-day moving average is $30.76 and its 200 day moving average is $41.40.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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%. On average, research analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Institutional Investors Weigh In On RxSight

A number of large investors have recently bought and sold shares of the business. Quarry LP boosted its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of RxSight during the third quarter valued at approximately $34,000. Private Trust Co. NA bought a new position in RxSight in the fourth quarter valued at approximately $34,000. State of Wyoming acquired a new stake in RxSight in the fourth quarter worth $37,000. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock worth $44,000 after acquiring an additional 672 shares during the period. 78.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Stifel Nicolaus reduced their price target on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of RxSight in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, RxSight currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

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.