Polar Asset Management Partners Inc. Acquires Shares of 46,700 RxSight, Inc. (NASDAQ:RXST)

Polar Asset Management Partners Inc. bought a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 46,700 shares of the company’s stock, valued at approximately $1,606,000.

Several other institutional investors also recently bought and sold shares of the stock. Private Trust Co. NA acquired a new stake in shares of RxSight during the 4th quarter worth approximately $34,000. Coppell Advisory Solutions LLC grew its position in RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company’s stock valued at $44,000 after buying an additional 672 shares during the period. Arcadia Investment Management Corp MI purchased a new position in RxSight in the fourth quarter valued at $46,000. Harbor Investment Advisory LLC acquired a new position in shares of RxSight in the fourth quarter worth about $52,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of RxSight during the 4th quarter worth about $69,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RxSight news, Director Tamara Fountain sold 7,000 shares of the firm’s 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 sale, the director now directly owns 24,793 shares of the company’s stock, valued at $637,428.03. This trade represents a 22.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is currently owned by company insiders.

RxSight Stock Up 6.6%

Shares of NASDAQ RXST opened at $14.19 on Friday. The firm has a 50-day simple moving average of $18.08 and a 200-day simple moving average of $30.25. The stock has a market capitalization of $576.64 million, a price-to-earnings ratio of -17.10 and a beta of 1.32. RxSight, Inc. has a 52 week low of $12.53 and a 52 week high of $64.50.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $38.74 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. As a group, equities research analysts expect that RxSight, Inc. will post -0.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $17.00 target price (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Bank of America reaffirmed an “underperform” rating and set a $22.00 target price (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Piper Sandler initiated coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Wells Fargo & Company cut their price target on shares of RxSight from $35.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, April 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of RxSight from $33.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.