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

UBS Group AG reduced its stake in shares of RxSight, Inc. (NASDAQ:RXST) by 15.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 624,600 shares of the company’s stock after selling 110,570 shares during the period. UBS Group AG owned about 1.52% of RxSight worth $6,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in RxSight by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company’s stock worth $552,000 after buying an additional 1,232 shares during the period. Goldman Sachs Group Inc. boosted its holdings in RxSight by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company’s stock worth $7,838,000 after buying an additional 113,767 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in RxSight by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company’s stock worth $2,358,000 after buying an additional 8,424 shares during the period. Creative Planning bought a new position in RxSight in the 2nd quarter worth approximately $207,000. Finally, Legal & General Group Plc boosted its holdings in RxSight by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 44,574 shares of the company’s stock worth $579,000 after buying an additional 2,121 shares during the period. 78.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on RXST. William Blair began coverage on shares of RxSight in a report on Friday, January 30th. They issued a “market perform” rating for the company. Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th. UBS Group raised their price objective on shares of RxSight from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Piper Sandler lowered their target price on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Finally, Stifel Nicolaus lowered their price objective on shares of RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. 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 company. Based on data from MarketBeat.com, RxSight currently has an average rating of “Reduce” and an average target price of $9.44.

RxSight Stock Down 0.8%

Shares of NASDAQ:RXST opened at $5.95 on Wednesday. The stock has a market cap of $246.33 million, a PE ratio of -5.27 and a beta of 1.24. The company’s fifty day moving average is $6.77 and its 200 day moving average is $8.77. RxSight, Inc. has a 52 week low of $5.30 and a 52 week high of $16.74.

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.