Parallel Advisors LLC Buys Shares of 7,933 RxSight, Inc. (NASDAQ:RXST)

Parallel Advisors LLC acquired a new stake in shares of RxSight, Inc. (NASDAQ:RXST) during the second quarter, according to its most recent filing with the SEC. The fund acquired 7,933 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RXST. CWM LLC raised its stake in shares of 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 during the period. Quest Partners LLC bought a new stake in shares of RxSight during the 2nd quarter valued at $41,000. Larson Financial Group LLC bought a new stake in shares of RxSight during the 1st quarter valued at $51,000. RiverPark Advisors LLC raised its stake in shares of RxSight by 361.4% during the 1st 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 period. Finally, Amalgamated Bank raised its stake in shares of RxSight by 7.7% during the 4th quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after purchasing an additional 298 shares during the period. 78.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Oppenheimer reduced their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. BTIG Research boosted their target price on RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. 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 research report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.14.

RxSight Trading Up 1.1 %

RXST opened at $56.14 on Wednesday. The stock has a 50-day moving average price of $50.73 and a 200-day moving average price of $53.97. RxSight, Inc. has a 12-month low of $20.66 and a 12-month high of $66.54. The stock has a market capitalization of $2.08 billion, a P/E ratio of -44.56 and a beta of 1.22.

RxSight (NASDAQ:RXST) last issued its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $34.89 million during 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%. RxSight’s quarterly revenue was up 67.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.40) EPS. On average, equities research analysts predict that RxSight, Inc. will post -0.81 EPS for the current year.

Insider Activity at RxSight

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