Carnegie Lake Advisors LLC Buys 87,345 Shares of RxSight, Inc. $RXST

Carnegie Lake Advisors LLC lifted its position in RxSight, Inc. (NASDAQ:RXST) by 81.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,345 shares of the company’s stock after acquiring an additional 87,345 shares during the period. Carnegie Lake Advisors LLC’s holdings in RxSight were worth $1,747,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Militia Capital Partners LP acquired a new position in shares of RxSight in the 1st quarter valued at $758,000. Brown Capital Management LLC lifted its holdings in RxSight by 18.2% during the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after acquiring an additional 171,952 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in RxSight in the second quarter valued at about $1,431,000. Goldman Sachs Group Inc. grew its stake in RxSight by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock valued at $7,838,000 after acquiring an additional 113,767 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of RxSight by 138.6% in the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company’s stock worth $4,871,000 after acquiring an additional 217,608 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RXST shares. Morgan Stanley lifted their price objective on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their price target on shares of RxSight from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Needham & Company LLC increased their price objective on shares of RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RxSight in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $10.00 target price on shares of RxSight in a research note on Thursday, November 6th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $9.67.

RxSight Stock Up 0.4%

Shares of RXST stock opened at $10.79 on Wednesday. RxSight, Inc. has a 12 month low of $6.32 and a 12 month high of $37.13. The company’s fifty day simple moving average is $10.61 and its 200-day simple moving average is $9.77. The firm has a market cap of $443.68 million, a PE ratio of -12.26 and a beta of 1.14.

RxSight (NASDAQ:RXST) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.15. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The firm had revenue of $30.34 million for the quarter, compared to analyst estimates of $25.63 million. During the same period in the previous year, the business earned ($0.16) EPS. The company’s revenue was down 31.4% compared to the same quarter last year. On average, equities analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

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.