RxSight, Inc. Shines with 20% Surge in Stock Price

Written By Michael Gary Scott

Shares of RxSight, Inc. RXST climbed dramatically during Monday’s session after the company issued preliminary FY23 and FY24 revenue guidance above estimates.

Additionally, Needham maintained a Buy rating on the stock and raised its price target from $35 to $41.

RxSight shares soared 20% to $44.31 on Monday.


What’s Driving the Surge?

Ahead of its fiscal year revenue forecast, RxSight, Inc. has surpassed market expectations, propelling its stock price to new heights. The upward trajectory is further supported by a favorable Buy rating from Needham and the subsequent increase in the stock’s price target. The company’s proactive stance and optimistic guidance have buoyed investor confidence, paving the way for a substantial surge in its stock value.


Other Stocks on the Move

Winners

  • Harpoon Therapeutics, Inc. HARP experienced a staggering 111.2% jump to $22.28 after Merck announced its acquisition of the company for $23 per share in cash.
  • Ambrx Biopharma Inc. AMAM surged 98.1% to $27.00 following Johnson & Johnson’s proposal to acquire the company in an all-cash merger for approximately $2 billion.
  • Spectaire Holdings Inc. SPEC leaped 75.2% to $2.96.
  • Nkarta, Inc. NKTX rose by 51% to $9.17 after announcing an updated corporate presentation reflecting business and strategic changes.
  • Universe Pharmaceuticals INC UPC advanced by 42% to $2.22.
  • Elevation Oncology, Inc. ELEV surged 39.2% to $1.2193.
  • NexImmune, Inc. NEXI rose by 34.7% to $8.32.
  • Praxis Precision Medicines, Inc. PRAX climbed 34% to $33.76 following the company’s update on advancing its clinical stage portfolio.
  • QuantaSing Group Limited QSG gained 31% to $2.0563.
  • Butterfly Network, Inc. BFLY rose by 29.7% to $1.31 after the announcement of FDA clearance for its handheld ultrasound system, Butterfly iQ3.
  • Venus Concept Inc. VERO climbed 28% to $1.51.
  • Ardelyx, Inc. ARDX gained 25.5% to $7.73 following the company’s update on progress in 2023 and initial expectations for 2024.
  • BioCryst Pharmaceuticals, Inc. BCRX rose by 20.8% to $7.36 after issuing preliminary Q4 revenue guidance above estimates and nearing positive EPS and cash flow in 2H 2025.
  • Axonics, Inc. AXNX jumped 19.9% to $69.03 after announcing a deal to be acquired by Boston Scientific.
  • Crocs, Inc. CROX surged 18.8% to $102.69 following the release of strong Q4 and full year 2023 guidance.
  • LendingTree, Inc. TREE rose by 17.3% to $33.50.
  • Wolverine World Wide, Inc. WWW jumped 16.7% to $9.02 and affirmed preliminary 2023 financial results in line with guidance.
  • Ampio Pharmaceuticals, Inc. AMPE gained 16.4% to $2.0799 after a previous 8% decline on Friday.
  • Shattuck Labs, Inc. STTK advanced by 15.2% to $9.52.
  • Vincerx Pharma, Inc. VINC rose by 14.3% to $1.36 after announcing compelling clinical efficacy of enitociclib in combination with venetoclax and prednisone in lymphoma.
  • Cyclacel Pharmaceuticals, Inc. CYCC shares rose by 14.1% to $2.84 after a 10% increase on Friday.
  • Silk Road Medical, Inc SILK surged 13.4% to $12.91.
  • OPKO Health, Inc. OPK jumped 12.5% to $1.00.
  • Avadel Pharmaceuticals plc AVDL gained 12% to $16.68 after issuing a business update.
  • Fastly, Inc. FSLY surged 10.5% to $17.88 following an upgrade from RBC Capital.
  • Upwork Inc. UPWK rose by 10.3% to $15.51 after an upgrade from Jefferies.
  • Commercial Metals Company CMC advanced by 6.2% to $51.21 post strong quarterly results.
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Losers

  • LumiraDx Limited LMDX shares fell 45.5% to $0.0187 after announcing suspension from trading on Nasdaq.
  • Top KingWin Ltd TCJH dipped 38.8% to $1.18.
  • Solo Brands, Inc. SOLO experienced a 34.2% drop to $3.01 despite recent product expansion.
  • Future FinTech Group Inc. FTFT sank 33.6% to $1.57 after a misleading earnings forecast.
  • NanoVibronix, Inc. NAOV plunged 28.5% to $1.22 following poor sales figures.
  • Oncternal Therapeutics, Inc. ONCT tumbled 25.8% to $1.97 after an unsuccessful drug trial.
  • Liminal BioSciences Inc. LMNL experienced a 22.3% drop to $1.84 despite a recent product approval.
  • Vector Acquisition Corporation VACQ plummeted 20.7% to $1.09 following a failed merger deal.
  • Shattuck Labs, Inc. STTK lost 15.2% to $9.52.
  • Amesite Inc. AMST slumped 14.6% to $2.37 despite a series of positive press releases.






Market Plunge: Dismal Day for Stocks

Market Plunge: Investors Reel as Stocks Suffer Sharp Declines

Stock Plunge Overview

DTC dipped 38.7% to $3.6150 after the company lowered full year 2023 revenue guidance below estimates. Dada Nexus Limited, Prothena Corporation plc, Jin Medical International Ltd., MMTec, Inc., Evolve Transition Infrastructure LP, Revance Therapeutics, Inc., Banzai International, Inc., Northern Dynasty Minerals Ltd., The Arena Group Holdings, Inc., Inspire Veterinary Partners, Inc., Pacific Biosciences of California, Inc., REGENXBIO Inc., Revance Therapeutics, Inc., BioSig Technologies, Inc., Bright Health Group, Inc., Safe and Green Development Corporation, Argo Blockchain plc, Shuttle Pharmaceuticals Holdings, Inc., Paragon 28, Inc., Sharps Technology, Inc., Dynavax Technologies Corporation, The Boeing Company, and Spirit AeroSystems Holdings, Inc. all faced varying degrees of decline.

While stocks often zig and zag, today saw a widespread, pronounced decline that has often feels disheartening to investors across the board. The sharp declines, evident in a broad swath of companies and sectors, have sent traders and market observers into a tizzy. The spectacle of red ink on trading screens underscores how quickly market sentiment can turn. An unfortunate confluence of events has conspired to wallop stock prices, leaving investors with furrowed brows and concern for the future. This is a day for the history books, a sink or swim moment where investors must try to navigate through murky waters in search of a silver lining.