PDT Partners LLC Takes Position in RxSight, Inc. (NASDAQ:RXST)

PDT Partners LLC purchased a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,129 shares of the company's stock, valued at approximately $896,000.

A number of other hedge funds have also recently bought and sold shares of the stock. M&G Plc raised its holdings in shares of RxSight by 12.4% in the 2nd quarter. M&G Plc now owns 159,005 shares of the company's stock valued at $9,540,000 after purchasing an additional 17,577 shares during the period. Vanguard Group Inc. raised its stake in RxSight by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company's stock valued at $78,634,000 after buying an additional 40,500 shares during the period. Algert Global LLC acquired a new stake in shares of RxSight in the second quarter valued at approximately $2,488,000. Victory Capital Management Inc. boosted its stake in shares of RxSight by 21.0% during the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company's stock worth $12,845,000 after acquiring an additional 45,161 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of RxSight by 17.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company's stock worth $7,190,000 after acquiring an additional 17,368 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Performance

Shares of RXST stock traded down $1.04 during trading on Monday, hitting $45.84. The company had a trading volume of 575,468 shares, compared to its average volume of 486,939. The stock's 50-day moving average price is $48.58 and its 200 day moving average price is $52.17. RxSight, Inc. has a one year low of $29.97 and a one year high of $66.54. The firm has a market capitalization of $1.85 billion, a P/E ratio of -55.28 and a beta of 1.19.

Insider Activity

In other news, Director Jesse Anderson Corley purchased 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the transaction, the director now owns 468,571 shares of the company's stock, valued at approximately $21,259,066.27. The trade was a 2.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ilya Goldshleger sold 3,100 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $139,500.00. Following the transaction, the insider now owns 42,246 shares of the company's stock, valued at approximately $1,901,070. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,702 shares of company stock worth $3,059,197. 9.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RXST has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of 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 reiterated a "buy" rating and issued a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. 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. Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They issued a "buy" rating and a $72.00 target price on the stock. Finally, Oppenheimer lowered their target price on RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $61.63.

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.