RxSight (NASDAQ:RXST) Trading Up 1.2% – Should You Buy?

RxSight, Inc. (NASDAQ:RXST)’s stock price was up 1.2% on Thursday . The stock traded as high as $45.46 and last traded at $45.34. Approximately 43,486 shares traded hands during trading, a decline of 91% from the average daily volume of 487,565 shares. The stock had previously closed at $44.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RXST shares. Oppenheimer reduced their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of RxSight in a report on Friday, September 13th. Stifel Nicolaus reduced their price target 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 reduced their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Jefferies Financial Group started coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $61.63.

RxSight Price Performance

The firm has a 50 day simple moving average of $49.78 and a two-hundred day simple moving average of $52.98. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -54.63 and a beta of 1.19.

Insiders Place Their Bets

In related news, Director Jesse Anderson Corley purchased 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $45.37 per share, with a total value of $504,106.07. Following the completion of the transaction, the director now owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,225,096.82. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,720 shares of company stock worth $2,603,950 over the last ninety days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Arete Wealth Advisors LLC acquired a new position in RxSight during the third quarter valued at approximately $215,000. Geode Capital Management LLC raised its holdings in RxSight by 17.7% in the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after acquiring an additional 122,775 shares in the last quarter. Barclays PLC increased its holdings in RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after purchasing an additional 46,783 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of RxSight in the 3rd quarter valued at about $452,000. Finally, MCIA Inc grew its position in shares of RxSight by 5.7% in the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after buying an additional 459 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.