Driehaus Capital Management LLC Has $42.49 Million Stock Position in RxSight, Inc. (NASDAQ:RXST)

Driehaus Capital Management LLC increased its position in shares of RxSight, Inc. (NASDAQ:RXST) by 74.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 706,162 shares of the company’s stock after acquiring an additional 302,367 shares during the quarter. Driehaus Capital Management LLC owned about 1.91% of RxSight worth $42,490,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in RxSight during the 2nd quarter valued at about $19,512,000. Baillie Gifford & Co. raised its position in shares of RxSight by 438.8% during the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after acquiring an additional 291,733 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of RxSight in the 2nd quarter valued at $14,942,000. M&G Plc bought a new position in shares of RxSight in the 1st quarter worth $7,354,000. Finally, Parkman Healthcare Partners LLC boosted its position in shares of RxSight by 34.5% in the 4th quarter. Parkman Healthcare Partners LLC now owns 513,032 shares of the company’s stock worth $20,685,000 after purchasing an additional 131,701 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on RXST shares. 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. Wells Fargo & Company cut their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Oppenheimer cut their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Stifel Nicolaus cut their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock 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 report on Monday, July 15th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, RxSight has a consensus rating of “Buy” and an average price target of $60.14.

Insider Activity at RxSight

In related 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 completion of the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of RxSight stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.61, for a total transaction of $586,100.00. Following the completion of the transaction, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $816,906.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,247,064.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,200 shares of company stock valued at $1,267,516. 9.36% of the stock is owned by corporate insiders.

RxSight Stock Performance

Shares of RXST stock opened at $48.54 on Friday. The company has a market capitalization of $1.80 billion, a P/E ratio of -38.52 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 company’s 50 day moving average price is $51.15 and its two-hundred day moving average price is $53.82.

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

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.