RxSight (NASDAQ:RXST) Insider Sells $14,205.36 in Stock

RxSight, Inc. (NASDAQ:RXST) insider Eric Weinberg sold 2,041 shares of the 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 $14,205.36. Following the completion of the transaction, the insider directly owned 200,348 shares of the company’s stock, valued at $1,394,422.08. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Price Performance

RXST opened at $6.38 on Friday. The stock’s 50 day moving average price is $6.00 and its 200 day moving average price is $6.34. The stock has a market cap of $265.34 million, a P/E ratio of -5.65 and a beta of 1.16. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RXST. Jefferies Financial Group set a $6.50 target price on shares of RxSight in a research report on Tuesday, July 7th. Wall Street Zen downgraded shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. UBS Group upped 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. Bank of America decreased their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $8.37.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after acquiring an additional 1,232 shares in the last quarter. Invesco Ltd. lifted its holdings in RxSight by 6.6% in the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock valued at $210,000 after acquiring an additional 1,249 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of RxSight by 4.4% during the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after purchasing an additional 1,701 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after purchasing an additional 2,089 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after purchasing an additional 2,121 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

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.