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

RxSight, Inc. (NASDAQ:RXST)’s stock price 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 traded hands during trading, a decline of 80% from the average daily volume of 485,822 shares. The stock had previously closed at $46.40.

Wall Street Analyst Weigh In

RXST has been the subject of several recent research reports. Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Oppenheimer lowered 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. Wells Fargo & Company reduced their price objective on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their target price 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight currently has a consensus rating of “Buy” and a consensus price target of $61.63.

RxSight Stock Up 1.0 %

The firm’s 50-day simple moving average is $48.58 and its 200-day simple moving average is $52.31. The firm has a market capitalization of $1.89 billion, a P/E ratio of -56.48 and a beta of 1.19.

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley purchased 11,111 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $45.37 per share, with a total value of $504,106.07. Following the completion of the purchase, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $45.00, for a total transaction of $139,500.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,901,070. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,702 shares of company stock worth $3,059,197. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

A number of large investors have recently added to or reduced their stakes in RXST. Vanguard Group Inc. grew its stake in shares of RxSight by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after buying an additional 40,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in RxSight by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock worth $3,143,000 after purchasing an additional 994 shares during the period. California State Teachers Retirement System lifted its position in RxSight by 6.8% in the first quarter. California State Teachers Retirement System now owns 27,052 shares of the company’s stock valued at $1,395,000 after purchasing an additional 1,733 shares during the last quarter. CWM LLC boosted its stake in shares of RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after purchasing an additional 371 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of RxSight in the second quarter worth $3,754,000. 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.