Shares of RxSight, Inc. (RXST) experienced a significant surge during Monday’s trading session following the release of preliminary revenue guidance for FY23 and FY24 that exceeded estimates. The stock rose by 20% to reach $44.31.
The positive momentum for RxSight was further supported by investment firm Needham, which maintained its Buy rating on the stock and raised its price target from $35 to $41. This endorsement from Needham contributed to the strong performance of RxSight shares.
RxSight is a company that specializes in developing innovative medical technologies and solutions. The positive revenue guidance indicates strong growth prospects for the company in the coming years.
In addition to RxSight, several other stocks made notable moves during Monday’s mid-day session:
1. Harpoon Therapeutics, Inc. (HARP) saw its shares surge by 111.2% to $22.28 after the announcement that Merck will acquire the company for $23 per share in cash.
2. Ambrx Biopharma Inc. (AMAM) experienced a jump of 98.1% to $27.00 following the news that Johnson & Johnson will acquire the company in an all-cash merger for a total equity value of approximately $2 billion.
3. Spectaire Holdings Inc. (SPEC) saw its shares rise by 75.2% to $2.96.
4. Nkarta, Inc. (NKTX) experienced a 51% increase to $9.17 after announcing an updated corporate presentation reflecting a business and strategic update.
5. Universe Pharmaceuticals INC (UPC) gained 42% to $2.22.
6. Elevation Oncology, Inc. (ELEV) saw its shares jump by 39.2% to $1.2193.
7. NexImmune, Inc. (NEXI) experienced a rise of 34.7% to $8.32.
8. Praxis Precision Medicines, Inc. (PRAX) saw its shares rise by 34% to $33.76 following an update on the advancement of its clinical stage portfolio.
9. QuantaSing Group Limited (QSG) gained 31% to $2.0563.
10. Butterfly Network, Inc. (BFLY) experienced a 29.7% increase to $1.31 after announcing FDA clearance of its handheld ultrasound system, Butterfly iQ3.
These are just a few examples of the stocks that made significant moves during Monday’s mid-day session. It is worth noting that the stock market is dynamic and subject to constant fluctuations. Investors should conduct thorough research and exercise caution when making investment decisions.
