Meridiem Capital Partners LP Takes $1.56 Million Position in RxSight, Inc. $RXST

Meridiem Capital Partners LP bought a new position in RxSight, Inc. (NASDAQ:RXST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 174,014 shares of the company’s stock, valued at approximately $1,564,000.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in RxSight in the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC grew its stake in RxSight by 156.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock valued at $72,000 after acquiring an additional 3,398 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of RxSight by 112.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,684 shares of the company’s stock valued at $113,000 after purchasing an additional 4,593 shares during the period. Osaic Holdings Inc. increased its holdings in shares of RxSight by 1,417.0% in the 2nd quarter. Osaic Holdings Inc. now owns 9,572 shares of the company’s stock valued at $124,000 after purchasing an additional 8,941 shares during the period. Finally, Lake Street Private Wealth LLC purchased a new stake in shares of RxSight in the third quarter worth approximately $128,000. 78.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RXST. UBS Group boosted their price objective on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Morgan Stanley increased their target price on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of RxSight in a report on Thursday, February 26th. William Blair started coverage on shares of RxSight in a research note on Friday, January 30th. They issued a “market perform” rating on the stock. Finally, Wolfe Research upgraded RxSight to an “outperform” rating in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $9.78.

RxSight Stock Performance

Shares of NASDAQ RXST traded up $0.10 during mid-day trading on Friday, reaching $7.74. 49,521 shares of the company traded hands, compared to its average volume of 991,975. The company’s fifty day moving average is $8.74 and its two-hundred day moving average is $9.43. RxSight, Inc. has a fifty-two week low of $6.32 and a fifty-two week high of $27.13. The stock has a market cap of $319.28 million, a PE ratio of -8.11 and a beta of 1.16.

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.