Ieq Capital LLC Invests $702,000 in RxSight, Inc. $RXST

Ieq Capital LLC acquired a new position in RxSight, Inc. (NASDAQ:RXST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 145,578 shares of the company’s stock, valued at approximately $702,000. Ieq Capital LLC owned about 0.35% of RxSight at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in RxSight during the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd grew 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 valued at $39,000 after acquiring an additional 3,063 shares during the period. CWM LLC grew 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 valued at $40,000 after acquiring an additional 2,596 shares during the period. Larson Financial Group LLC increased its stake in shares of RxSight by 110.5% in 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 in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of RxSight in the 1st quarter worth $30,000. 78.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RXST. Stifel Nicolaus lowered their target price on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Bank of America reduced their price target on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. Jefferies Financial Group set a $6.50 price objective on RxSight in a research report on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective 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 assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $8.37.

RxSight Stock Performance

Shares of RxSight stock opened at $6.61 on Friday. The company has a market capitalization of $274.93 million, a P/E ratio of -5.85 and a beta of 1.13. The company has a fifty day moving average of $5.79 and a 200 day moving average of $6.38. RxSight, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $13.22.

RxSight (NASDAQ:RXST) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. The business had revenue of $33.74 million for the quarter, compared to analysts’ expectations of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Analysts forecast that RxSight, Inc. will post -1.01 EPS for the current year.

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.