Renaissance Technologies LLC Acquires 183,300 Shares of RxSight, Inc. (NASDAQ:RXST)

Renaissance Technologies LLC increased its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 102.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,500 shares of the company’s stock after acquiring an additional 183,300 shares during the period. Renaissance Technologies LLC’s holdings in RxSight were worth $12,428,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position in shares of RxSight by 37.8% during the third quarter. HighTower Advisors LLC now owns 13,013 shares of the company’s stock worth $640,000 after buying an additional 3,571 shares during the period. State Street Corp boosted its position in RxSight by 8.3% during the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after acquiring an additional 62,349 shares during the last quarter. MML Investors Services LLC bought a new position in shares of RxSight during the 3rd quarter worth approximately $452,000. Barclays PLC raised its holdings in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after purchasing an additional 46,783 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares in the last quarter. 78.78% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tamara Fountain sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now owns 24,793 shares of the company’s stock, valued at approximately $637,428.03. The trade was a 22.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.36% of the company’s stock.

RxSight Price Performance

RxSight stock opened at $14.62 on Wednesday. The business has a 50 day moving average of $24.85 and a 200-day moving average of $35.75. RxSight, Inc. has a 1 year low of $13.50 and a 1 year high of $66.54. The company has a market capitalization of $591.98 million, a P/E ratio of -17.61 and a beta of 1.26.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). The business had revenue of $40.21 million for 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 analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RXST. Bank of America restated an “underperform” rating and issued a $22.00 price objective (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Piper Sandler began coverage on shares of RxSight in a report on Tuesday. They issued a “neutral” rating and a $18.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of RxSight in a research report on Thursday, April 3rd. UBS Group cut RxSight from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RxSight currently has a consensus rating of “Hold” and an average price target of $37.60.

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.