Walleye Capital LLC Reduces Stock Position in RxSight, Inc. (NASDAQ:RXST)

Walleye Capital LLC reduced its holdings in RxSight, Inc. (NASDAQ:RXST - Free Report) by 75.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,342 shares of the company's stock after selling 98,345 shares during the quarter. Walleye Capital LLC owned 0.08% of RxSight worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RXST. MML Investors Services LLC bought a new stake in shares of RxSight in the third quarter worth $452,000. Barclays PLC raised its position in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after purchasing an additional 46,783 shares during the period. Geode Capital Management LLC increased its stake in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock worth $40,398,000 after purchasing an additional 122,775 shares during the period. JPMorgan Chase & Co. grew its holdings in RxSight by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company's stock valued at $9,516,000 after buying an additional 7,494 shares in the last quarter. Finally, Paragon Advisors LLC grew its holdings in RxSight by 20.5% in the 4th quarter. Paragon Advisors LLC now owns 37,822 shares of the company's stock valued at $1,300,000 after buying an additional 6,423 shares in the last quarter. Institutional investors own 78.78% of the company's stock.

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $25.71, for a total transaction of $179,970.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RXST. Stifel Nicolaus reduced their target price on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. UBS Group cut RxSight from a "buy" rating to a "neutral" rating and cut their price target for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Bank of America reissued an "underperform" rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a research note on Thursday, April 3rd. Finally, Piper Sandler initiated coverage on shares of RxSight in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, RxSight currently has a consensus rating of "Hold" and a consensus target price of $37.60.

RxSight Stock Performance

Shares of RxSight stock traded up $0.15 during trading hours on Wednesday, reaching $14.47. The company's stock had a trading volume of 790,382 shares, compared to its average volume of 620,924. The stock's fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $34.57. The company has a market capitalization of $585.90 million, a P/E ratio of -17.43 and a beta of 1.26. RxSight, Inc. has a one year low of $13.50 and a one year high of $66.54.

RxSight (NASDAQ:RXST - Get Free Report) last released its 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 net margin of 23.92% and a negative return on equity of 14.00%. The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. As a group, research analysts forecast that RxSight, Inc. will post -0.7 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.