RxSight, Inc. (NASDAQ:RXST) Sees Large Growth in Short Interest

RxSight, Inc. (NASDAQ:RXST) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 5,358,739 shares, an increase of 29.3% from the January 29th total of 4,144,635 shares. Currently, 14.4% of the company’s stock are short sold. Based on an average daily volume of 1,142,570 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily volume of 1,142,570 shares, the days-to-cover ratio is presently 4.7 days. Currently, 14.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RXST. Millennium Management LLC lifted its holdings in shares of RxSight by 130.6% during the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock worth $19,716,000 after purchasing an additional 1,241,885 shares during the period. Bank of America Corp DE lifted its stake in shares of RxSight by 406.0% in the 3rd quarter. Bank of America Corp DE now owns 722,435 shares of the company’s stock worth $6,495,000 after acquiring an additional 579,653 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of RxSight by 27.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock worth $29,283,000 after acquiring an additional 485,021 shares during the period. UBS Group AG boosted its holdings in shares of RxSight by 183.0% in the third quarter. UBS Group AG now owns 735,170 shares of the company’s stock valued at $6,609,000 after acquiring an additional 475,395 shares in the last quarter. Finally, Nuveen LLC increased its stake in shares of RxSight by 609.7% during the fourth quarter. Nuveen LLC now owns 531,730 shares of the company’s stock worth $5,541,000 after acquiring an additional 456,803 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RXST. Wolfe Research raised shares of RxSight to an “outperform” rating in a report on Friday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of RxSight in a research note on Thursday, February 26th. UBS Group upped their price objective on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. lifted their target price on RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company boosted their target price on RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $9.89.

RxSight Stock Performance

Shares of RXST opened at $7.93 on Thursday. RxSight has a fifty-two week low of $6.32 and a fifty-two week high of $27.13. The firm has a 50-day simple moving average of $9.12 and a 200-day simple moving average of $9.49. The company has a market capitalization of $327.27 million, a price-to-earnings ratio of -8.35 and a beta of 1.16.

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.