RxSight (NASDAQ:RXST) Trading 3.7% Higher – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST)’s share price traded up 3.7% during trading on Monday . The company traded as high as $38.70 and last traded at $38.67. 133,663 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 504,459 shares. The stock had previously closed at $37.30.

Analysts Set New Price Targets

Several analysts have commented on the company. UBS Group assumed coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $42.00 price objective (down from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. 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. Finally, Jefferies Financial Group began coverage on shares of RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and an average target price of $62.13.

RxSight Trading Up 3.2 %

The firm has a market capitalization of $1.55 billion, a PE ratio of -46.59 and a beta of 1.11. The firm has a 50-day moving average of $46.98 and a two-hundred day moving average of $50.72.

Insider Activity

In other RxSight news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now owns 10,902 shares of the company’s stock, valued at $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,946,695.68. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,807 shares of company stock worth $3,202,275. 9.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently modified their holdings of RXST. CWM LLC grew its holdings in RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after buying an additional 371 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 in the last quarter. Quarry LP lifted its stake in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of RxSight in the third quarter valued at approximately $34,000. Finally, Quest Partners LLC acquired a new position in shares of RxSight during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.