JPMorgan Chase & Co. Sells 158,113 Shares of RxSight, Inc. (NASDAQ:RXST)

JPMorgan Chase & Co. lessened its holdings in RxSight, Inc. (NASDAQ:RXST - Free Report) by 82.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,397 shares of the company's stock after selling 158,113 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of RxSight worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock worth $81,946,000 after purchasing an additional 96,464 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company's stock worth $53,345,000 after buying an additional 381,389 shares during the period. Thrivent Financial for Lutherans grew its position in shares of RxSight by 53.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 352,626 shares of the company's stock valued at $12,124,000 after buying an additional 122,989 shares during the last quarter. Telemark Asset Management LLC increased its stake in shares of RxSight by 6.6% in the fourth quarter. Telemark Asset Management LLC now owns 321,000 shares of the company's stock valued at $11,036,000 after buying an additional 20,000 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of RxSight by 32.6% during the fourth quarter. New York State Common Retirement Fund now owns 294,051 shares of the company's stock worth $10,109,000 after acquiring an additional 72,340 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RXST has been the topic of several analyst reports. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and reduced their target price for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their target price on shares of RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, April 3rd. Piper Sandler began coverage on shares of RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RxSight has an average rating of "Hold" and an average price target of $37.60.

RxSight Stock Performance

Shares of NASDAQ RXST traded up $0.68 during trading on Tuesday, hitting $15.24. 1,721,836 shares of the company traded hands, compared to its average volume of 636,786. The firm has a market capitalization of $619.05 million, a price-to-earnings ratio of -18.36 and a beta of 1.26. The business's fifty day moving average is $21.82 and its 200 day moving average is $33.50. RxSight, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $66.54.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. The firm had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. On average, analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Activity at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the completion of the sale, the director now directly owns 24,793 shares of the company's stock, valued at $637,428.03. The trade was a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.36% of the stock is currently owned by insiders.

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.