RxSight, Inc. (NASDAQ:RXST) Position Trimmed by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lessened its position in RxSight, Inc. (NASDAQ:RXST) by 37.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,593 shares of the company’s stock after selling 6,868 shares during the quarter. Mach 1 Financial Group LLC’s holdings in RxSight were worth $467,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RiverPark Advisors LLC lifted its position in shares of RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after acquiring an additional 275 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of RxSight during the third quarter worth $32,000. Clarus Group Inc. purchased a new stake in shares of RxSight during the fourth quarter worth $202,000. Thompson Davis & CO. Inc. purchased a new stake in shares of RxSight during the fourth quarter worth $212,000. Finally, Penn Mutual Asset Management LLC purchased a new stake in shares of RxSight during the third quarter worth $230,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of NASDAQ:RXST traded up $0.62 during trading on Wednesday, reaching $52.75. The stock had a trading volume of 52,951 shares, compared to its average volume of 421,228. RxSight, Inc. has a 52 week low of $18.09 and a 52 week high of $58.21. The business’s 50-day moving average price is $52.48 and its 200 day moving average price is $42.34.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, February 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. RxSight had a negative net margin of 54.57% and a negative return on equity of 31.16%. The company had revenue of $28.58 million during the quarter, compared to analysts’ expectations of $28.60 million. As a group, sell-side analysts anticipate that RxSight, Inc. will post -0.94 EPS for the current fiscal year.

Insider Activity

In related news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the transaction, the chief financial officer now owns 13,691 shares in the company, valued at approximately $771,761.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.37, for a total value of $563,700.00. Following the completion of the transaction, the chief financial officer now owns 13,691 shares in the company, valued at approximately $771,761.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Phd Link sold 28,250 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $49.67, for a total transaction of $1,403,177.50. Following the completion of the transaction, the director now owns 24,248 shares of the company’s stock, valued at approximately $1,204,398.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,869 shares of company stock worth $4,771,244. Insiders own 21.13% of the company’s stock.

Wall Street Analyst Weigh In

RXST has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on RxSight from $40.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Oppenheimer increased their target price on shares of RxSight from $54.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Stifel Nicolaus increased their target price on shares of RxSight from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of RxSight in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $49.63.

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.