RxSight (NASDAQ:RXST) Upgraded by Wall Street Zen to Sell Rating

RxSight (NASDAQ:RXST) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Sunday.

RXST has been the subject of a number of other research reports. Bank of America reduced their price objective on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Jefferies Financial Group set a $6.50 target price on RxSight in a research note on Tuesday. Weiss Ratings lowered RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of RxSight in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company decreased their price target on RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.89.

RxSight Stock Performance

Shares of RxSight stock traded down $0.13 during trading on Friday, hitting $4.95. 690,441 shares of the company’s stock were exchanged, compared to its average volume of 1,461,624. The stock has a market capitalization of $204.93 million, a price-to-earnings ratio of -4.38 and a beta of 1.15. The business has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $7.30. RxSight has a 52-week low of $4.48 and a 52-week high of $13.22.

Institutional Investors Weigh In On RxSight

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in RxSight by 6.0% during 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. Goldman Sachs Group Inc. increased its stake in shares of RxSight by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after purchasing an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of RxSight by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock worth $2,358,000 after purchasing an additional 8,424 shares in the last quarter. Creative Planning acquired a new position in shares of RxSight during the 2nd quarter worth about $207,000. Finally, Legal & General Group Plc boosted its holdings in RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after buying 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.