Next Century Growth Investors LLC Sells 405,554 Shares of RxSight, Inc. (NASDAQ:RXST)

Next Century Growth Investors LLC reduced its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 70.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,899 shares of the company's stock after selling 405,554 shares during the period. Next Century Growth Investors LLC owned 0.42% of RxSight worth $5,876,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Private Trust Co. NA purchased a new position in RxSight in the fourth quarter valued at about $34,000. Arcadia Investment Management Corp MI acquired a new stake in shares of RxSight during the 4th quarter valued at about $46,000. Harbor Investment Advisory LLC bought a new stake in shares of RxSight in the 4th quarter valued at approximately $52,000. Global Retirement Partners LLC acquired a new position in RxSight in the fourth quarter worth approximately $69,000. Finally, KBC Group NV raised its position in RxSight by 71.0% during the fourth quarter. KBC Group NV now owns 2,107 shares of the company's stock valued at $72,000 after acquiring an additional 875 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RxSight

In related news, Director Tamara Fountain sold 7,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total value of $179,970.00. Following the completion of the transaction, the director now owns 24,793 shares of the company's stock, valued at $637,428.03. This represents a 22.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shweta Maniar sold 3,519 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.36% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on RXST shares. Bank of America reissued an "underperform" rating and issued a $22.00 target price (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Piper Sandler began coverage on shares of RxSight in a research report on Tuesday. They set a "neutral" rating and a $18.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $43.00 target price on shares of RxSight in a report on Thursday, April 3rd. Stifel Nicolaus lowered their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $17.00 target price (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $37.60.

RxSight Stock Performance

Shares of RXST traded down $0.13 during mid-day trading on Thursday, hitting $14.40. The company's stock had a trading volume of 339,363 shares, compared to its average volume of 611,584. RxSight, Inc. has a one year low of $13.50 and a one year high of $66.54. The stock's 50-day moving average is $24.48 and its two-hundred day moving average is $35.60. The firm has a market capitalization of $583.07 million, a PE ratio of -17.39 and a beta of 1.26.

RxSight (NASDAQ:RXST - Get Free Report) last posted 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). The company had revenue of $40.21 million during the quarter, compared to analyst estimates of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. Analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal 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.