Trexquant Investment LP Sells 74,813 Shares of RxSight, Inc. (NASDAQ:RXST)

Trexquant Investment LP cut its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 57.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,416 shares of the company’s stock after selling 74,813 shares during the quarter. Trexquant Investment LP’s holdings in RxSight were worth $1,940,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock valued at $1,034,000 after buying an additional 399 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in RxSight by 8.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,818 shares of the company’s stock valued at $3,402,000 after purchasing an additional 5,266 shares in the last quarter. HighTower Advisors LLC lifted its holdings in RxSight by 37.8% during the third quarter. HighTower Advisors LLC now owns 13,013 shares of the company’s stock valued at $640,000 after purchasing an additional 3,571 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of RxSight by 35.5% in the third quarter. Janus Henderson Group PLC now owns 14,500 shares of the company’s stock worth $716,000 after purchasing an additional 3,800 shares during the period. Finally, Quarry LP increased its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

Insider Activity at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the 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 sale, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jesse Anderson Corley purchased 1,443 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the transaction, the director now owns 1,443 shares of the company’s stock, valued at $44,992.74. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RXST has been the topic of a number of analyst reports. Bank of America restated an “underperform” rating and set a $22.00 target price (down previously from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $17.00 target price (down previously from $40.00) on shares of RxSight in a research report on Friday, April 4th. Stifel Nicolaus lowered their price target on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Finally, Wells Fargo & Company cut their price objective on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.78.

RxSight Stock Performance

NASDAQ RXST opened at $14.99 on Wednesday. The stock has a 50 day moving average price of $27.13 and a 200-day moving average price of $37.10. RxSight, Inc. has a one year low of $10.80 and a one year high of $66.54. The company has a market capitalization of $606.96 million, a P/E ratio of -18.06 and a beta of 1.26.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) 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 business had revenue of $40.21 million for the quarter, compared to analysts’ expectations of $40.23 million. As a group, equities analysts predict that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

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.