RxSight, Inc. (NASDAQ:RXST) Shares Acquired by Telemark Asset Management LLC

Telemark Asset Management LLC lifted its position in shares of RxSight, Inc. (NASDAQ:RXST) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Telemark Asset Management LLC owned about 0.80% of RxSight worth $11,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RXST. Brown Capital Management LLC acquired a new stake in shares of RxSight during the 3rd quarter valued at approximately $26,813,000. Point72 Asset Management L.P. raised its position in shares of RxSight by 610.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock valued at $22,094,000 after acquiring an additional 384,041 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of RxSight during the 3rd quarter valued at approximately $11,350,000. RA Capital Management L.P. raised its position in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after acquiring an additional 222,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after acquiring an additional 122,775 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Stock Performance

NASDAQ:RXST opened at $26.07 on Thursday. RxSight, Inc. has a 1 year low of $24.64 and a 1 year high of $66.54. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -31.41 and a beta of 1.22. The business has a fifty day moving average of $30.95 and a 200-day moving average of $41.52.

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). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. On average, equities research analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley bought 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shweta Maniar sold 3,519 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $227,913.21. This represents a 32.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of RxSight in a research report on Wednesday, February 26th. UBS Group assumed coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company dropped their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their target price on RxSight from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.63.

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.