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

AlphaQuest LLC raised its stake in RxSight, Inc. (NASDAQ:RXST) by 65.7% in the fourth quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RXST. Principal Financial Group Inc. increased its stake in shares of RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares during the period. 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 valued at $32,000 after buying an additional 288 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of RxSight by 1.9% in the third 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 during the period. MCIA Inc increased its stake in shares of RxSight by 5.7% in the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after buying an additional 459 shares during the period. Finally, KBC Group NV increased its stake in shares of RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after buying an additional 479 shares during the period. Institutional investors own 78.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Shweta Maniar sold 3,519 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This trade represents a 32.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.36% of the stock is owned by company insiders.

RxSight Stock Up 2.5 %

Shares of RXST stock opened at $25.84 on Monday. The company has a market cap of $1.05 billion, a price-to-earnings 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. The firm has a 50 day moving average of $30.56 and a 200-day moving average of $41.00.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data 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 analyst estimates of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Analyst Ratings Changes

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

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.