RxSight (NASDAQ:RXST) Stock Price Down 1.7% – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST)’s stock price dropped 1.7% during trading on Monday . The stock traded as low as $45.50 and last traded at $46.07. Approximately 72,896 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 484,728 shares. The stock had previously closed at $46.88.

Wall Street Analyst Weigh In

RXST has been the topic of several recent analyst reports. Oppenheimer dropped their target price on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Wells Fargo & Company dropped their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Stifel Nicolaus dropped their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Jefferies Financial Group began coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $61.63.

RxSight Price Performance

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -52.63 and a beta of 1.11. The firm’s 50 day moving average price is $48.36 and its two-hundred day moving average price is $51.94.

Insider Activity at RxSight

In related 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 completion of the sale, the director now owns 10,902 shares in the company, valued at $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ilya Goldshleger sold 1,330 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total value of $61,352.90. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $1,948,807.98. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,807 shares of company stock worth $3,202,275 over the last 90 days. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of RXST. Arete Wealth Advisors LLC purchased a new stake in shares of RxSight in the 3rd quarter worth about $215,000. Geode Capital Management LLC grew its holdings in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after buying an additional 122,775 shares in the last quarter. Barclays PLC grew its holdings in shares of RxSight by 389.8% during the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after buying an additional 46,783 shares in the last quarter. MML Investors Services LLC purchased a new stake in RxSight in the third quarter valued at approximately $452,000. Finally, MCIA Inc grew its holdings in RxSight by 5.7% in the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

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.