Eric Weinberg Sells 2,041 Shares of RxSight (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) insider Eric Weinberg sold 2,041 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $14,205.36. Following the completion of the transaction, the insider owned 200,348 shares in the company, valued at approximately $1,394,422.08. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Performance

RXST traded up $0.04 during midday trading on Wednesday, hitting $7.03. The stock had a trading volume of 778,865 shares, compared to its average volume of 898,096. RxSight, Inc. has a 1 year low of $4.48 and a 1 year high of $13.22. The business has a fifty day moving average of $5.95 and a 200 day moving average of $6.35. The company has a market cap of $292.40 million, a P/E ratio of -6.22 and a beta of 1.16.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. On average, equities research analysts anticipate that RxSight, Inc. will post -1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company decreased their target price on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus lowered their target price on RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Bank of America dropped their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Finally, UBS Group raised their price target on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, RxSight presently has an average rating of “Reduce” and a consensus price target of $8.37.

Institutional Trading of RxSight

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of RxSight in the second quarter valued at approximately $27,910,000. Millennium Management LLC boosted its holdings in RxSight by 130.6% during the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after acquiring an additional 1,241,885 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of RxSight by 23.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,157,264 shares of the company’s stock valued at $22,479,000 after purchasing an additional 403,581 shares during the period. No Street GP LP grew its stake in shares of RxSight by 35.4% in the third quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock worth $14,609,000 after acquiring an additional 425,000 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in RxSight by 30.3% during the 1st quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock worth $7,454,000 after purchasing an additional 281,426 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.