RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Reduce” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average recommendation of “Reduce” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.8889.

A number of research analysts recently weighed in on RXST shares. Bank of America cut their target price on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Wall Street Zen raised shares of RxSight from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a research note on Tuesday, July 7th. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Wells Fargo & Company dropped their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th.

RxSight Price Performance

NASDAQ:RXST opened at $5.55 on Monday. The company has a market cap of $229.77 million, a price-to-earnings ratio of -4.91 and a beta of 1.15. RxSight has a 1 year low of $4.48 and a 1 year high of $13.22. The stock’s 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $7.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in RxSight in the second quarter worth about $28,000. Summit Securities Group LLC purchased a new stake in RxSight during the first quarter valued at approximately $30,000. Larson Financial Group LLC raised its position 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 purchasing an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd raised its position 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 purchasing an additional 3,063 shares during the period. Finally, CWM LLC lifted its stake in shares of 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 purchasing an additional 2,596 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

About RxSight

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.