Walleye Capital LLC Takes Position in RxSight, Inc. $RXST

Key Points

• Walleye Capital acquired 358,036 RxSight shares in the second quarter, worth approximately $1.73 million and representing about 0.86% of the company. Institutional investors collectively own 78.78% of RXST.
• Analyst sentiment remains cautious: RxSight has a consensus rating of “Reduce” and an average price target of $8.37, with ratings spanning Buy, Hold, and Sell.
• RxSight reported quarterly revenue of $33.74 million and an adjusted loss of $0.29 per share, exceeding analyst expectations, but the company continues to post negative margins and is expected to lose $1.31 per share for the year.

Walleye Capital LLC acquired a new stake in RxSight, Inc. (NASDAQ:RXST - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 358,036 shares of the company's stock, valued at approximately $1,726,000. Walleye Capital LLC owned about 0.86% of RxSight as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in RxSight in the second quarter valued at $28,000. Summit Securities Group LLC purchased a new position in shares of RxSight during the 1st quarter worth $30,000. Larson Financial Group LLC grew its holdings in shares of RxSight by 110.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock worth $36,000 after purchasing an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock worth $39,000 after purchasing an additional 3,063 shares during the last quarter. Finally, CWM LLC increased its position in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company's stock worth $40,000 after purchasing an additional 2,596 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.

Wall Street Analyst Weigh In

RXST has been the topic of a number of recent analyst reports. Bank of America decreased their target price on shares of RxSight from $8.00 to $6.50 and set an "underperform" rating on the stock in a research report on Tuesday, July 7th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a research report on Tuesday, July 7th. Wall Street Zen raised shares of RxSight from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price target on shares of RxSight in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $8.37.

RxSight Trading Down 1.7%

Shares of NASDAQ RXST opened at $6.89 on Friday. RxSight, Inc. has a twelve month low of $4.48 and a twelve month high of $13.22. The stock has a fifty day simple moving average of $5.50 and a 200-day simple moving average of $6.55. The stock has a market capitalization of $286.56 million, a PE ratio of -6.10 and a beta of 1.13.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%.The firm had revenue of $33.74 million for the quarter, compared to the consensus estimate of $32.55 million. On average, equities analysts predict that RxSight, Inc. will post -1.31 earnings per share for the current year.

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.

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