Seven Eight Capital LP Decreases Position in RxSight, Inc. (NASDAQ:RXST)

Seven Eight Capital LP lowered its position in RxSight, Inc. (NASDAQ:RXST) by 15.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,599 shares of the company’s stock after selling 4,567 shares during the quarter. Seven Eight Capital LP owned 0.07% of RxSight worth $1,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its holdings in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of RxSight in the second quarter valued at approximately $41,000. Larson Financial Group LLC acquired a new stake in shares of RxSight in the first quarter valued at approximately $51,000. Amalgamated Bank increased its stake in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares in the last quarter. Finally, RiverPark Advisors LLC raised its position in shares of RxSight by 361.4% during the 1st quarter. RiverPark Advisors LLC now owns 3,082 shares of the company’s stock worth $159,000 after purchasing an additional 2,414 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Performance

RxSight stock opened at $53.57 on Friday. RxSight, Inc. has a 1 year low of $20.66 and a 1 year high of $66.54. The firm has a 50 day moving average price of $50.80 and a 200 day moving average price of $53.97.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The business had revenue of $34.89 million during the quarter, compared to the consensus estimate of $32.33 million. During the same period in the prior year, the firm posted ($0.40) EPS. The business’s revenue for the quarter was up 67.6% on a year-over-year basis. Equities research analysts expect that RxSight, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at RxSight

In other news, insider Ilya Goldshleger sold 9,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.25, for a total transaction of $353,250.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $1,658,155.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Shelley B. Thunen sold 10,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total value of $586,100.00. Following the transaction, the chief financial officer now owns 13,938 shares of the company’s stock, valued at approximately $816,906.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 9,000 shares of RxSight stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.25, for a total transaction of $353,250.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $1,658,155.50. The disclosure for this sale can be found here. Company insiders own 9.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Oppenheimer decreased their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus cut their price objective on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, BTIG Research raised their target price on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $60.14.

RxSight Company 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.