RxSight (NASDAQ:RXST) Stock Price Up 4.9% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reduced their price objective on RxSight from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Piper Sandler cut their price target on RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Stifel Nicolaus reduced their price target on RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Weiss Ratings downgraded RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note 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 report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, RxSight has a consensus rating of “Reduce” and a consensus target price of $9.44.

RxSight Stock Up 1.7%

The company has a market cap of $219.82 million, a P/E ratio of -4.70 and a beta of 1.14. The firm’s 50 day moving average is $5.94 and its two-hundred day moving average is $7.93.

Institutional Investors Weigh In On RxSight

Several institutional investors and hedge funds have recently made changes to their positions in RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after acquiring an additional 1,232 shares during the period. Invesco Ltd. increased its position in RxSight by 6.6% during the 4th quarter. Invesco Ltd. now owns 20,114 shares of the company’s stock valued at $210,000 after purchasing an additional 1,249 shares during the period. Verition Fund Management LLC increased its position in RxSight by 4.4% during the 4th quarter. Verition Fund Management LLC now owns 40,613 shares of the company’s stock valued at $423,000 after purchasing an additional 1,701 shares during the period. Larson Financial Group LLC increased its position in RxSight by 110.5% during the 3rd 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. Finally, Legal & General Group Plc raised its holdings in RxSight by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after purchasing an additional 2,121 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.