Insider Selling: RxSight (NASDAQ:RXST) COO Sells $14,205.36 in Stock

RxSight, Inc. (NASDAQ:RXST) COO Ilya Goldshleger sold 2,041 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total value of $14,205.36. Following the completion of the transaction, the chief operating officer owned 81,509 shares in the company, valued at $567,302.64. This represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

RxSight Stock Down 2.4%

NASDAQ RXST opened at $6.38 on Friday. The stock has a market capitalization of $265.34 million, a PE ratio of -5.65 and a beta of 1.16. The company has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $6.34. RxSight, Inc. has a 12-month low of $4.48 and a 12-month high of $13.22.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.04. RxSight had a negative net margin of 36.80% and a negative return on equity of 17.35%. The company had revenue of $33.74 million during the quarter, compared to the consensus estimate of $32.55 million. As a group, equities analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RXST. UBS Group upped their price objective on shares of RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Stifel Nicolaus reduced their price target on RxSight from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Bank of America decreased their price target on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, RxSight presently has a consensus rating of “Reduce” and a consensus target price of $8.37.

Institutional Trading of RxSight

Several large investors have recently modified their holdings of RXST. Raymond James Financial Inc. acquired a new position in RxSight in the 2nd quarter valued at $28,000. Summit Securities Group LLC acquired a new position in RxSight during the 1st quarter worth $30,000. Larson Financial Group LLC boosted its holdings in RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after acquiring an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in RxSight by 440.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after acquiring an additional 3,063 shares during the period. Finally, CWM LLC grew its position in shares of RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the last quarter. 78.78% of the stock is owned by institutional investors.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.