RxSight (NASDAQ:RXST) Trading 4.9% Higher – Still a Buy?

RxSight, Inc. (NASDAQ:RXST) shares were up 4.9% during mid-day trading on Monday . The stock traded as high as $5.15 and last traded at $4.96. 1,303,184 shares traded hands during trading, an increase of 43% from the average session volume of 911,497 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

Several analysts have recently issued reports on RXST shares. Needham & Company LLC dropped their target price on shares of RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company reduced their price target on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. UBS Group raised their price target on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Stifel Nicolaus lowered their price objective on RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Finally, Piper Sandler cut their price objective on RxSight from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.44.

RxSight Trading Up 4.9%

The business has a fifty day simple moving average of $5.97 and a two-hundred day simple moving average of $7.97. The company has a market cap of $205.34 million, a PE ratio of -4.39 and a beta of 1.15.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently modified their holdings of the business. Meridiem Capital Partners LP acquired a new position in RxSight during the third quarter worth about $1,564,000. Quantbot Technologies LP grew its stake in RxSight by 168.7% during the 3rd quarter. Quantbot Technologies LP now owns 146,248 shares of the company’s stock valued at $1,315,000 after acquiring an additional 91,815 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in RxSight in the 3rd quarter valued at about $212,000. CWM LLC raised its holdings in RxSight by 211.1% in the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after acquiring an additional 2,596 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in RxSight in the 4th quarter worth approximately $118,000. 78.78% of the stock is owned by hedge funds and other 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.