AlphaQuest LLC Acquires 2,017 Shares of RxSight, Inc. (NASDAQ:RXST)

AlphaQuest LLC lifted its holdings in RxSight, Inc. (NASDAQ:RXST) by 65.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,086 shares of the company’s stock after purchasing an additional 2,017 shares during the quarter. AlphaQuest LLC’s holdings in RxSight were worth $175,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Aigen Investment Management LP bought a new stake in shares of RxSight in the fourth quarter worth $407,000. Victory Capital Management Inc. lifted its position in shares of RxSight by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 271,978 shares of the company’s stock worth $9,351,000 after purchasing an additional 12,114 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of RxSight by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 290,754 shares of the company’s stock worth $9,996,000 after purchasing an additional 5,425 shares in the last quarter. Hanover Advisors Inc. lifted its position in shares of RxSight by 18.2% in the fourth quarter. Hanover Advisors Inc. now owns 6,498 shares of the company’s stock worth $223,000 after purchasing an additional 1,000 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of RxSight in the fourth quarter worth $2,641,000. Institutional investors own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group initiated coverage on shares of RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of RxSight in a report 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

RxSight Stock Performance

Shares of RxSight stock opened at $25.84 on Monday. The firm has a 50-day moving average of $30.56 and a 200-day moving average of $41.00. The stock has a market cap of $1.05 billion, a PE ratio of -31.13 and a beta of 1.22. RxSight, Inc. has a 52-week low of $24.64 and a 52-week high of $66.54.

RxSight (NASDAQ:RXST) last announced its 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). The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. Equities research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jesse Anderson Corley acquired 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired 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 directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tamara Fountain sold 7,000 shares of the company’s 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 sale, the director now directly owns 24,793 shares of the company’s stock, valued at $637,428.03. This represents a 22.02 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is currently owned by company insiders.

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.