540,208 Shares in RxSight, Inc. $RXST Acquired by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in RxSight, Inc. (NASDAQ:RXST) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 540,208 shares of the company’s stock, valued at approximately $2,604,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Walleye Capital LLC purchased a new position in shares of RxSight in the second quarter valued at $1,726,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in RxSight by 761.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,131,400 shares of the company’s stock worth $6,969,000 after buying an additional 1,000,000 shares during the period. GSA Capital Partners LLP acquired a new position in RxSight in the 2nd quarter worth $431,000. Bank of America Corp DE lifted its holdings in RxSight by 30.3% in the 1st quarter. Bank of America Corp DE now owns 1,210,039 shares of the company’s stock worth $7,454,000 after buying an additional 281,426 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in RxSight by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 100,306 shares of the company’s stock valued at $618,000 after buying an additional 5,978 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $6.61 on Friday. The stock has a fifty day moving average price of $5.79 and a two-hundred day moving average price of $6.38. The firm has a market cap of $274.93 million, a P/E ratio of -5.85 and a beta of 1.13. RxSight, Inc. has a 1 year low of $4.48 and a 1 year high of $13.22.

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

Analyst Upgrades and Downgrades

RXST has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of RxSight from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America reduced their price objective 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. Weiss Ratings lowered shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wells Fargo & Company dropped their target price on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Stifel Nicolaus cut their target price on shares of RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, RxSight has an average rating of “Reduce” and a consensus price target 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.