RxSight (NASDAQ:RXST) Trading Down 3.7% - Time to Sell?

Key Points

• Shares were down 3.7% to $6.76 on Tuesday with below-average volume, leaving the stock under its 50‑day ($7.64) and 200‑day ($9.14) moving averages and a market cap of roughly $279M.
• Analyst consensus is "Reduce" with an average price target of $9.78; recent research shows mixed views (2 Buys, 10 Holds, 3 Sells) and several firms have trimmed targets.
• RxSight commercializes the Light Adjustable Lens for cataract surgery, carries a negative PE (-7.12), and is heavily owned by institutions (about 78.8% of shares).

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) fell 3.7% on Tuesday . The company traded as low as $6.75 and last traded at $6.76. 430,271 shares were traded during trading, a decline of 45% from the average session volume of 784,773 shares. The stock had previously closed at $7.02.

Analyst Ratings Changes

A number of research firms recently weighed in on RXST. Piper Sandler reduced their price objective on RxSight from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, February 26th. UBS Group increased their target price on RxSight from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of RxSight in a research note on Thursday, February 26th. Stifel Nicolaus cut their target price on RxSight from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Monday, March 9th. Finally, William Blair started coverage on RxSight in a research note on Friday, January 30th. They set a "market perform" rating on the stock. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $9.78.

RxSight Trading Down 3.7%

The firm has a 50 day simple moving average of $7.64 and a 200 day simple moving average of $9.14. The firm has a market capitalization of $278.99 million, a PE ratio of -7.12 and a beta of 1.22.

Institutional Trading of RxSight

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its holdings in shares of RxSight by 46.4% in the third quarter. Baillie Gifford & Co. now owns 686,316 shares of the company's stock worth $6,170,000 after acquiring an additional 217,371 shares during the period. Squarepoint Ops LLC grew its holdings in shares of RxSight by 138.6% in the second quarter. Squarepoint Ops LLC now owns 374,663 shares of the company's stock worth $4,871,000 after acquiring an additional 217,608 shares during the period. Meridiem Capital Partners LP bought a new stake in shares of RxSight in the third quarter worth $1,564,000. Carnegie Lake Advisors LLC grew its holdings in shares of RxSight by 81.6% in the third quarter. Carnegie Lake Advisors LLC now owns 194,345 shares of the company's stock worth $1,747,000 after acquiring an additional 87,345 shares during the period. Finally, 4D Advisors LLC grew its holdings in shares of RxSight by 92.3% in the second quarter. 4D Advisors LLC now owns 125,000 shares of the company's stock worth $1,625,000 after acquiring an additional 60,000 shares during the period. 78.78% of the stock is currently 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.

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