Grandeur Peak Global Advisors LLC Acquires New Stake in RxSight, Inc. $RXST

Grandeur Peak Global Advisors LLC acquired a new stake in shares of RxSight, Inc. (NASDAQ:RXST) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 722,440 shares of the company’s stock, valued at approximately $3,482,000.

A number of other large investors have also bought and sold shares of the company. Vitruvian Partners LLP bought a new stake in RxSight in the 2nd quarter valued at about $1,344,129,000. Tocqueville Asset Management L.P. purchased a new stake in RxSight during the second quarter valued at about $1,277,000. Walleye Capital LLC bought a new position in RxSight during the second quarter worth about $1,726,000. Healthcare of Ontario Pension Plan Trust Fund boosted 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 purchasing an additional 1,000,000 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of RxSight in the second quarter worth about $2,604,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

RxSight Stock Up 3.6%

Shares of NASDAQ RXST opened at $6.61 on Friday. The company 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 52 week low of $4.48 and a 52 week high of $13.22. The business has a 50-day simple moving average of $5.79 and a two-hundred day simple moving average of $6.38.

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

Wall Street Analysts Forecast Growth

RXST has been the topic of several research reports. Bank of America lowered their price target on shares of RxSight from $8.00 to $6.50 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of RxSight in a report on Tuesday, July 7th. UBS Group lifted their price objective on shares of RxSight from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of RxSight from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company dropped their target price 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. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average 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.