Moore Capital Management LP Acquires 81,438 Shares of RxSight, Inc. $RXST

Moore Capital Management LP boosted its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 116.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,500 shares of the company’s stock after purchasing an additional 81,438 shares during the period. Moore Capital Management LP owned 0.36% of RxSight worth $730,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RXST. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after purchasing an additional 1,232 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after buying an additional 113,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in RxSight by 9.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock worth $2,358,000 after acquiring an additional 8,424 shares during the last quarter. Creative Planning acquired a new stake in RxSight in the 2nd quarter valued at about $207,000. Finally, Legal & General Group Plc raised its stake in shares of RxSight by 5.0% in the second quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after acquiring an additional 2,121 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America decreased their price target 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. Jefferies Financial Group set a $6.50 price objective on RxSight in a report on Tuesday, July 7th. Wells Fargo & Company decreased their price objective on RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings cut RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen downgraded RxSight from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.37.

RxSight Trading Down 4.6%

Shares of RXST opened at $6.99 on Wednesday. The stock has a market cap of $290.71 million, a P/E ratio of -6.19 and a beta of 1.16. RxSight, Inc. has a 1 year low of $4.48 and a 1 year high of $13.22. The stock’s 50-day moving average price is $5.92 and its two-hundred day moving average price is $6.36.

RxSight (NASDAQ:RXST) last announced 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 company had revenue of $33.74 million during 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%. As a group, equities analysts forecast that RxSight, Inc. will post -1.01 EPS 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.