RxSight (NASDAQ:RXST) Trading Up 1.6% – What’s Next?

Shares of RxSight, Inc. (NASDAQ:RXST) were up 1.6% during mid-day trading on Monday . The stock traded as high as $45.62 and last traded at $45.53. Approximately 97,308 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 486,993 shares. The stock had previously closed at $44.83.

Analysts Set New Price Targets

A number of equities analysts recently commented on RXST shares. Stifel Nicolaus lowered their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Oppenheimer reduced their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, RxSight currently has a consensus rating of “Buy” and an average price target of $61.63.

RxSight Stock Up 0.7 %

The stock has a market cap of $1.87 billion, a PE ratio of -55.78 and a beta of 1.19. The firm has a fifty day moving average of $49.00 and a 200 day moving average of $52.48.

Insider Transactions at RxSight

In other news, Director Jesse Anderson Corley acquired 11,111 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $52.67, for a total value of $163,277.00. Following the sale, the insider now owns 42,246 shares in the company, valued at $2,225,096.82. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,702 shares of company stock valued at $3,059,197. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Several large investors have recently modified their holdings of RXST. Vanguard Group Inc. raised its position in RxSight by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after purchasing an additional 40,500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of RxSight by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock worth $3,143,000 after buying an additional 994 shares during the period. California State Teachers Retirement System grew its holdings in shares of RxSight by 6.8% during the first quarter. California State Teachers Retirement System now owns 27,052 shares of the company’s stock worth $1,395,000 after buying an additional 1,733 shares during the last quarter. RA Capital Management L.P. increased its position in RxSight by 1.1% in the 1st quarter. RA Capital Management L.P. now owns 3,442,825 shares of the company’s stock valued at $177,581,000 after acquiring an additional 38,540 shares during the period. Finally, CWM LLC raised its stake in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.

About RxSight

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.