Renaissance Technologies LLC Acquires 73,100 Shares of RxSight, Inc. (NASDAQ:RXST)

Renaissance Technologies LLC increased its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 46.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 230,100 shares of the company’s stock after acquiring an additional 73,100 shares during the period. Renaissance Technologies LLC owned about 0.62% of RxSight worth $13,845,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of RxSight during the first quarter worth $1,929,000. Capstone Investment Advisors LLC bought a new stake in RxSight during the 4th quarter valued at about $642,000. Principal Financial Group Inc. boosted its position in RxSight by 298.5% in the 1st quarter. Principal Financial Group Inc. now owns 34,928 shares of the company’s stock valued at $1,802,000 after buying an additional 26,164 shares during the period. Baillie Gifford & Co. bought a new position in RxSight in the 1st quarter worth about $3,429,000. Finally, M&G Plc purchased a new position in shares of RxSight during the first quarter worth approximately $7,354,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Down 1.1 %

NASDAQ:RXST opened at $52.98 on Monday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -42.05 and a beta of 1.22. RxSight, Inc. has a 52 week low of $20.66 and a 52 week high of $66.54. The firm has a 50 day moving average of $50.98 and a 200 day moving average of $53.94.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share 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 firm had revenue of $34.89 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same quarter last year, the firm earned ($0.40) EPS. The business’s quarterly revenue was up 67.6% on a year-over-year basis. As a group, analysts expect that RxSight, Inc. will post -0.81 EPS for the current year.

Insider Activity

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ilya Goldshleger sold 9,000 shares of the business’s 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 sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,658,155.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shelley B. Thunen sold 10,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 13,938 shares in the company, valued at $816,906.18. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

About RxSight

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.