RxSight (NASDAQ:RXST) Price Target Lowered to $10.00 at Piper Sandler

RxSight (NASDAQ:RXST) had its price objective dropped by analysts at Piper Sandler from $11.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 32.01% from the stock’s previous close.

RXST has been the topic of a number of other reports. Morgan Stanley lifted their price objective on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of RxSight in a research report on Thursday. UBS Group reaffirmed a “neutral” rating on shares of RxSight in a research note on Monday, January 12th. Wolfe Research raised RxSight to an “outperform” rating in a report on Friday, January 30th. Finally, Stifel Nicolaus set a $10.00 price objective on shares of RxSight in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $9.78.

RxSight Trading Down 14.0%

RXST stock traded down $1.24 during midday trading on Thursday, reaching $7.58. 598,433 shares of the company’s stock traded hands, compared to its average volume of 1,044,026. RxSight has a 52-week low of $6.32 and a 52-week high of $29.69. The stock has a market cap of $311.48 million, a P/E ratio of -8.53 and a beta of 1.14. The stock’s 50-day moving average is $9.53 and its 200 day moving average is $9.49.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in RxSight during the 2nd quarter valued at approximately $28,000. Bessemer Group Inc. purchased a new position in RxSight in the 2nd quarter worth $33,000. Larson Financial Group LLC lifted its position in 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 acquiring an additional 2,089 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in 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 acquiring an additional 3,063 shares during the period. Finally, CWM LLC boosted its position in RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after buying an additional 2,596 shares during the last quarter. 78.78% of the stock is 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.