RxSight, Inc. (NASDAQ:RXST) Short Interest Down 13.4% in January

RxSight, Inc. (NASDAQ:RXST) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 4,144,635 shares, a decrease of 13.4% from the January 15th total of 4,783,862 shares. Approximately 11.1% of the shares of the company are short sold. Based on an average daily volume of 1,128,003 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily volume of 1,128,003 shares, the days-to-cover ratio is currently 3.7 days. Approximately 11.1% of the shares of the company are short sold.

Institutional Trading of RxSight

A number of institutional investors have recently made changes to their positions in the business. Artisan Partners Limited Partnership lifted its position in RxSight by 27.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock worth $29,283,000 after buying an additional 485,021 shares in the last quarter. Millennium Management LLC lifted its stake in RxSight by 130.6% in the 3rd quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after purchasing an additional 1,241,885 shares during the last quarter. No Street GP LP boosted its stake in shares of RxSight by 35.4% during the 3rd quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock worth $14,609,000 after acquiring an additional 425,000 shares during the period. Brown Capital Management LLC increased its holdings in shares of RxSight by 18.2% in the second quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock valued at $14,550,000 after purchasing an additional 171,952 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in RxSight by 8.0% in the 4th quarter. BNP Paribas Financial Markets now owns 975,744 shares of the company’s stock valued at $10,167,000 after buying an additional 71,898 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

NASDAQ RXST opened at $8.53 on Thursday. RxSight has a 52-week low of $6.32 and a 52-week high of $31.24. The business has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $9.45. The stock has a market cap of $350.75 million, a price-to-earnings ratio of -9.69 and a beta of 1.14.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RXST. JPMorgan Chase & Co. boosted their price target on RxSight from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. William Blair started coverage on RxSight in a report on Friday, January 30th. They set a “market perform” rating on the stock. Wolfe Research upgraded shares of RxSight to an “outperform” rating in a research report on Friday, January 30th. Wells Fargo & Company increased their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Piper Sandler upped their price target on RxSight from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Two equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.78.

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.