Y Intercept Hong Kong Ltd Invests $1.43 Million in RxSight, Inc. $RXST

Y Intercept Hong Kong Ltd acquired a new position in RxSight, Inc. (NASDAQ:RXST) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 110,051 shares of the company’s stock, valued at approximately $1,431,000. Y Intercept Hong Kong Ltd owned 0.27% of RxSight as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RXST. Bessemer Group Inc. bought a new position in shares of RxSight in the 2nd quarter worth approximately $33,000. State of Wyoming raised its stake in RxSight by 91.5% during the 1st quarter. State of Wyoming now owns 2,062 shares of the company’s stock worth $52,000 after acquiring an additional 985 shares during the period. CWM LLC raised its stake in RxSight by 614.1% during the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock worth $59,000 after acquiring an additional 3,887 shares during the period. Russell Investments Group Ltd. raised its stake in RxSight by 161.2% during the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock worth $103,000 after acquiring an additional 2,525 shares during the period. Finally, AlphaQuest LLC raised its stake in RxSight by 66.0% during the 1st quarter. AlphaQuest LLC now owns 8,443 shares of the company’s stock worth $213,000 after acquiring an additional 3,357 shares during the period. Institutional investors own 78.78% of the company’s stock.

RxSight Price Performance

Shares of RXST opened at $8.79 on Monday. RxSight, Inc. has a 1 year low of $6.32 and a 1 year high of $55.57. The company has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $10.92. The firm has a market cap of $359.69 million, a P/E ratio of -10.99 and a beta of 1.16.

RxSight (NASDAQ:RXST) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The company had revenue of $33.64 million for the quarter, compared to analysts’ expectations of $39.78 million. During the same period last year, the business earned ($0.16) earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of recent analyst reports. Bank of America decreased their target price on shares of RxSight from $18.00 to $9.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 9th. Morgan Stanley cut shares of RxSight from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $9.00 in a research note on Tuesday, July 15th. Zacks Research upgraded shares of RxSight from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Piper Sandler decreased their target price on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Finally, UBS Group decreased their target price on shares of RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $10.00.

RxSight 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.