Wells Fargo & Company Lowers RxSight (NASDAQ:RXST) Price Target to $40.00

RxSight (NASDAQ:RXST) had its price objective cut by Wells Fargo & Company from $42.00 to $40.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday. Jefferies Financial Group initiated coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday. Finally, UBS Group began coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Trading Up 4.1 %

NASDAQ RXST opened at $31.32 on Monday. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The company has a 50 day moving average price of $40.18 and a two-hundred day moving average price of $47.17.

Insider Buying and Selling

In other RxSight news, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the sale, the director now directly owns 10,902 shares of the company’s stock, valued at $500,183.76. This represents a 25.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $49.68, for a total transaction of $154,008.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $2,098,781.28. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,902 shares of company stock valued at $1,805,478. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares in the last quarter. Quarry LP grew its position in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of RxSight during the 3rd quarter worth about $34,000. Quest Partners LLC acquired a new position in shares of RxSight in the 2nd quarter worth approximately $41,000. Finally, Amalgamated Bank boosted its stake in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares in the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

RxSight Company Profile

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.