RxSight (NASDAQ:RXST) Trading 0.9% Higher – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST) shares rose 0.9% during mid-day trading on Friday . The stock traded as high as $47.89 and last traded at $46.80. Approximately 96,595 shares were traded during trading, a decline of 80% from the average daily volume of 485,822 shares. The stock had previously closed at $46.40.

Analyst Upgrades and Downgrades

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

RxSight Trading Up 1.0 %

The business’s 50 day simple moving average is $48.85 and its 200 day simple moving average is $52.44. The firm has a market capitalization of $1.89 billion, a PE ratio of -56.39 and a beta of 1.19.

Insider Buying and Selling at RxSight

In other RxSight news, Director Jesse Anderson Corley purchased 11,111 shares of RxSight stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $2,247,064.74. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,702 shares of company stock valued at $3,059,197 in the last three months. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its holdings in RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the last quarter. Quarry LP increased its position in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight in the third quarter valued at $34,000. Finally, Quest Partners LLC acquired a new stake in RxSight during the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.