Point72 Asset Management L.P. Purchases 46,336 Shares of RxSight, Inc. (NASDAQ:RXST)

Point72 Asset Management L.P. lifted its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 279.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,935 shares of the company’s stock after buying an additional 46,336 shares during the period. Point72 Asset Management L.P.’s holdings in RxSight were worth $3,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RXST. Doheny Asset Management CA lifted its position in shares of RxSight by 51.7% during the 2nd quarter. Doheny Asset Management CA now owns 14,490 shares of the company’s stock valued at $872,000 after buying an additional 4,940 shares during the last quarter. Algert Global LLC bought a new position in RxSight in the 2nd quarter worth about $2,488,000. Driehaus Capital Management LLC increased its position in shares of RxSight by 74.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after purchasing an additional 302,367 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of RxSight during the 2nd quarter valued at about $3,993,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in RxSight by 25.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,512 shares of the company’s stock valued at $1,234,000 after acquiring an additional 4,116 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $2,247,064.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 21,405 shares of company stock worth $986,423. Insiders own 9.36% of the company’s stock.

RxSight Stock Up 0.9 %

Shares of NASDAQ:RXST opened at $47.56 on Thursday. RxSight, Inc. has a 52-week low of $20.66 and a 52-week high of $66.54. The stock has a market cap of $1.76 billion, a P/E ratio of -37.75 and a beta of 1.22. The business’s 50 day moving average is $51.16 and its 200 day moving average is $53.86.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06. The business had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The business’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.81 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.