RxSight (NASDAQ:RXST) Trading Down 0.8% After Insider Selling

Shares of RxSight, Inc. (NASDAQ:RXST) dropped 0.8% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $45.88 and last traded at $45.99. Approximately 37,939 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 487,885 shares. The stock had previously closed at $46.38.

Specifically, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $45.00, for a total transaction of $139,500.00. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,901,070. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $142,228.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,938,246.48. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the transaction, the director now directly owns 10,902 shares in the company, valued at $500,183.76. The trade was a 25.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several brokerages have recently commented on RXST. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Wells Fargo & Company decreased their price target 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. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Oppenheimer dropped their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, RxSight has an average rating of “Buy” and an average target price of $61.63.

RxSight Stock Performance

The stock has a fifty day simple moving average of $49.00 and a 200 day simple moving average of $52.48. The firm has a market cap of $1.87 billion, a P/E ratio of -55.78 and a beta of 1.19.

Hedge Funds Weigh In On RxSight

A number of hedge funds have recently bought and sold shares of RXST. RA Capital Management L.P. grew its stake in shares of RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after acquiring an additional 222,000 shares during the period. Vanguard Group Inc. boosted its holdings in RxSight by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock worth $78,634,000 after purchasing an additional 40,500 shares during the last quarter. State Street Corp grew its position in RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after purchasing an additional 62,349 shares during the period. Geode Capital Management LLC grew its position in RxSight by 17.7% in the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in RxSight by 74.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after buying an additional 302,367 shares during the last quarter. 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.