UBS Group AG Sells 110,570 Shares of RxSight, Inc. $RXST

UBS Group AG decreased its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 624,600 shares of the company’s stock after selling 110,570 shares during the period. UBS Group AG’s holdings in RxSight were worth $6,508,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. CWM LLC boosted its stake in shares of RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares in the last quarter. PFG Investments LLC bought a new stake in shares of RxSight during the 4th quarter valued at about $118,000. Baillie Gifford & Co. boosted its stake in shares of RxSight by 1.0% during the 4th quarter. Baillie Gifford & Co. now owns 693,146 shares of the company’s stock valued at $7,223,000 after purchasing an additional 6,830 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in RxSight by 28.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 30,789 shares of the company’s stock worth $321,000 after acquiring an additional 6,822 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new stake in RxSight during the fourth quarter worth about $249,000. Institutional investors own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of NASDAQ:RXST opened at $5.95 on Wednesday. The firm has a fifty day moving average price of $6.77 and a 200 day moving average price of $8.77. RxSight, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $16.74. The firm has a market cap of $246.33 million, a price-to-earnings ratio of -5.27 and a beta of 1.24.

Analyst Ratings Changes

Several brokerages have issued reports on RXST. Piper Sandler decreased their target price on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Wolfe Research raised shares of RxSight to an “outperform” rating in a report on Friday, January 30th. Wells Fargo & Company decreased their target price on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Weiss Ratings cut shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. Finally, UBS Group lifted their target price on shares of RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $9.44.

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.