Insider Selling: RxSight (NASDAQ:RXST) CFO Sells $54,044.40 in Stock

RxSight, Inc. (NASDAQ:RXST) CFO Mark Wilterding sold 7,765 shares of the business’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 value of $54,044.40. Following the completion of the transaction, the chief financial officer directly owned 25,049 shares in the company, valued at $174,341.04. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

RXST stock opened at $6.38 on Friday. The business has a fifty day moving average price of $6.00 and a 200 day moving average price of $6.34. RxSight, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $13.22. The stock has a market capitalization of $265.34 million, a price-to-earnings ratio of -5.65 and a beta of 1.16.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RXST. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a report on Tuesday, July 7th. Wall Street Zen downgraded RxSight from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. UBS Group lifted their target price on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, RxSight currently has a consensus rating of “Reduce” and an average price target of $8.37.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently modified their holdings of RXST. Corient Private Wealth LP lifted its holdings in RxSight by 176.6% in the second quarter. Corient Private Wealth LP now owns 85,838 shares of the company’s stock valued at $414,000 after buying an additional 54,806 shares during the period. Grandeur Peak Global Advisors LLC grew its holdings in RxSight by 55.2% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 722,440 shares of the company’s stock worth $3,482,000 after acquiring an additional 256,848 shares during the period. Moore Capital Management LP grew its holdings in RxSight by 116.2% during the 2nd quarter. Moore Capital Management LP now owns 151,500 shares of the company’s stock worth $730,000 after acquiring an additional 81,438 shares during the period. Hsbc Holdings PLC raised its position in shares of RxSight by 16.6% during the 2nd quarter. Hsbc Holdings PLC now owns 92,312 shares of the company’s stock valued at $445,000 after acquiring an additional 13,162 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of RxSight during the 2nd quarter valued at $165,000. 78.78% of the stock is owned by 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.