Alberta Investment Management Corp Cuts Stake in RxSight, Inc. (NASDAQ:RXST)

Alberta Investment Management Corp lessened its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,972 shares of the company’s stock after selling 25,602 shares during the quarter. Alberta Investment Management Corp’s holdings in RxSight were worth $824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RXST. Nisa Investment Advisors LLC raised its holdings in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares during the period. Quarry LP grew its position in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of RxSight during the third quarter valued at approximately $34,000. Harbor Investment Advisory LLC acquired a new position in shares of RxSight during the fourth quarter worth $52,000. Finally, KBC Group NV boosted its stake in shares of RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Stock Down 2.4 %

Shares of NASDAQ RXST opened at $29.60 on Friday. The stock’s 50 day moving average price is $33.14 and its two-hundred day moving average price is $43.81. RxSight, Inc. has a 52-week low of $26.29 and a 52-week high of $66.54. The stock has a market capitalization of $1.19 billion, a P/E ratio of -35.66 and a beta of 1.19.

Insider Activity

In other news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now directly owns 10,902 shares in the company, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $142,228.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,938,246.48. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,506 shares of company stock worth $567,456. 9.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RXST shares. Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reduced their price target on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, RxSight has an average rating of “Moderate Buy” and an average target price of $58.13.

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.