Seven Eight Capital LP Decreases Stock Position in RxSight, Inc. (NASDAQ:RXST)

Seven Eight Capital LP lowered its position in shares of RxSight, Inc. (NASDAQ:RXST) by 15.1% during the second quarter, HoldingsChannel reports. The firm owned 25,599 shares of the company’s stock after selling 4,567 shares during the period. Seven Eight Capital LP’s holdings in RxSight were worth $1,540,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC grew its holdings in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of RxSight during the second quarter valued at about $41,000. Larson Financial Group LLC purchased a new stake in shares of RxSight during the first quarter worth about $51,000. Amalgamated Bank lifted its stake in shares of RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in RxSight by 361.4% in the first quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock valued at $159,000 after purchasing an additional 2,414 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.61, for a total value of $586,100.00. Following the sale, the chief financial officer now directly owns 13,938 shares in the company, valued at $816,906.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Ilya Goldshleger sold 9,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,658,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $58.61, for a total value of $586,100.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at $816,906.18. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RXST shares. Wells Fargo & Company dropped their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Oppenheimer cut their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Stifel Nicolaus cut their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, BTIG Research lifted their price target on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, RxSight has an average rating of “Buy” and a consensus price target of $60.14.

RxSight Stock Down 1.1 %

NASDAQ RXST opened at $53.57 on Friday. RxSight, Inc. has a one year low of $20.66 and a one year high of $66.54. The company has a 50-day simple moving average of $50.80 and a 200-day simple moving average of $53.97.

RxSight (NASDAQ:RXST) last issued its earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The company had revenue of $34.89 million during the quarter, compared to the consensus estimate of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. RxSight’s quarterly revenue was up 67.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. As a group, equities analysts anticipate that RxSight, Inc. will post -0.81 earnings per share for the current year.

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.