Ilya Goldshleger Sells 2,041 Shares of RxSight (NASDAQ:RXST) Stock

RxSight, Inc. (NASDAQ:RXST) COO Ilya Goldshleger sold 2,041 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $14,205.36. Following the completion of the transaction, the chief operating officer owned 81,509 shares of the company’s stock, valued at $567,302.64. This represents a 2.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Trading Down 7.0%

RXST stock opened at $6.54 on Friday. The company has a market cap of $272.00 million, a P/E ratio of -5.79 and a beta of 1.16. RxSight, Inc. has a 52 week low of $4.48 and a 52 week high of $13.22. The company’s 50-day moving average price is $5.98 and its 200 day moving average price is $6.34.

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

Analyst Ratings Changes

RXST has been the subject of several research analyst reports. Stifel Nicolaus dropped their price objective on RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Bank of America decreased their target price on RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. UBS Group upped their target price on RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company dropped their price target on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Two 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. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $8.37.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently modified their holdings of RXST. Raymond James Financial Inc. purchased a new position in shares of RxSight during the 2nd quarter worth approximately $28,000. Summit Securities Group LLC acquired a new position in shares of RxSight during the 1st quarter worth approximately $30,000. Larson Financial Group LLC lifted its stake in RxSight by 110.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after buying an additional 2,089 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in RxSight by 440.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after buying an additional 3,063 shares in the last quarter. Finally, CWM LLC lifted its stake in RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after buying an additional 2,596 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

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.