RxSight (NASDAQ:RXST) Upgraded by UBS Group to “Hold” Rating

UBS Group upgraded shares of RxSight (NASDAQ:RXST) to a hold rating in a research note published on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a report on Tuesday, July 7th. Bank of America reduced their price objective on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of RxSight from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of RxSight in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.50.

RxSight Price Performance

Shares of RxSight stock opened at $6.13 on Tuesday. The business has a 50 day moving average price of $5.27 and a 200 day moving average price of $6.80. The company has a market capitalization of $253.78 million, a P/E ratio of -5.42 and a beta of 1.15. RxSight has a 1 year low of $4.48 and a 1 year high of $13.22.

Hedge Funds Weigh In On RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the 2nd quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of RxSight by 440.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after buying an additional 3,063 shares during the last quarter. CWM LLC boosted its position in shares of RxSight by 211.1% during the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock worth $40,000 after buying an additional 2,596 shares during the period. Larson Financial Group LLC boosted its position in shares of RxSight by 110.5% during the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after buying an additional 2,089 shares during the period. Finally, Summit Securities Group LLC bought a new position in RxSight in the 1st quarter worth approximately $30,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.