Vitruvian Partners LLP Purchases New Shares in RxSight, Inc. $RXST

Vitruvian Partners LLP acquired a new stake in RxSight, Inc. (NASDAQ:RXST) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 278,865 shares of the company’s stock, valued at approximately $1,344,129,000. RxSight makes up about 0.7% of Vitruvian Partners LLP’s holdings, making the stock its 8th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in shares of RxSight in the second quarter valued at about $1,726,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in RxSight by 761.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock worth $6,969,000 after acquiring an additional 1,000,000 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in RxSight in the 1st quarter worth about $81,000. Hsbc Holdings PLC acquired a new stake in RxSight in the 1st quarter worth about $473,000. Finally, ADAR1 Capital Management LLC boosted its holdings in RxSight by 98.4% in the 1st quarter. ADAR1 Capital Management LLC now owns 43,250 shares of the company’s stock valued at $266,000 after purchasing an additional 21,447 shares during the period. Institutional investors own 78.78% of the company’s stock.

RxSight Trading Down 1.7%

Shares of NASDAQ:RXST opened at $6.37 on Wednesday. The firm has a 50 day moving average of $5.56 and a 200-day moving average of $6.49. The stock has a market capitalization of $264.93 million, a PE ratio of -5.64 and a beta of 1.13. RxSight, Inc. has a 12 month low of $4.48 and a 12 month high of $13.22.

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

Analyst Ratings Changes

RXST has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of RxSight in a research report on Tuesday, July 7th. Bank of America cut their price target on RxSight from $8.00 to $6.50 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company reduced their price target 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. Stifel Nicolaus lowered their price objective on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded RxSight from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.37.

RxSight 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.