RxSight (NASDAQ:RXST) Sets New 12-Month Low – Time to Sell?

RxSight, Inc. (NASDAQ:RXST)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $33.00 and last traded at $33.26, with a volume of 80145 shares. The stock had previously closed at $34.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 price objective (down previously from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Stifel Nicolaus lowered RxSight from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $65.00 to $40.00 in a report on Friday, December 20th. UBS Group initiated coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

RxSight Price Performance

The firm has a market cap of $1.35 billion, a PE ratio of -40.28 and a beta of 1.20. The business has a 50-day moving average price of $41.02 and a two-hundred day moving average price of $47.65.

Insider Buying and Selling at RxSight

In related news, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the sale, the director now owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This represents a 25.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total value of $161,180.55. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,192,989.86. The trade was a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,102 shares of company stock worth $2,115,075. 9.36% of the stock is owned by corporate insiders.

Institutional Trading of RxSight

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted 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 purchasing an additional 521 shares in the last quarter. Quarry LP lifted its stake in shares of RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new stake in RxSight during the third quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in RxSight in the 2nd quarter worth approximately $41,000. Finally, Amalgamated Bank raised its holdings in RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds 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.