Quantbot Technologies LP Has $1.15 Million Position in RxSight, Inc. (NASDAQ:RXST)

Quantbot Technologies LP lifted its stake in RxSight, Inc. (NASDAQ:RXST) by 31.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,444 shares of the company’s stock after acquiring an additional 8,041 shares during the quarter. Quantbot Technologies LP’s holdings in RxSight were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP grew its stake in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of RxSight in the 3rd quarter valued at approximately $34,000. Private Trust Co. NA bought a new stake in shares of RxSight in the 4th quarter valued at approximately $34,000. Arcadia Investment Management Corp MI acquired a new position in RxSight in the fourth quarter worth approximately $46,000. Finally, Harbor Investment Advisory LLC bought a new position in RxSight during the fourth quarter valued at approximately $52,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Tamara Fountain sold 7,000 shares of the company’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 value of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shweta Maniar sold 3,519 shares of the firm’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 transaction, the director now owns 7,383 shares of the company’s stock, valued at $227,913.21. This trade represents a 32.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RXST. Wells Fargo & Company dropped their price target on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. UBS Group began coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Stifel Nicolaus reduced their target price on RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Bank of America decreased their price target on shares of RxSight from $60.00 to $36.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price objective on shares of RxSight in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

RxSight Stock Performance

NASDAQ RXST opened at $24.70 on Wednesday. RxSight, Inc. has a twelve month low of $24.09 and a twelve month high of $66.54. The stock has a market cap of $1.00 billion, a PE ratio of -29.76 and a beta of 1.22. The firm has a 50-day simple moving average of $29.40 and a 200 day simple moving average of $39.55.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.25). The firm 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%. Research analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current fiscal 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.