RxSight (NASDAQ:RXST) Trading 0.9% Higher – Time to Buy?

RxSight, Inc. (NASDAQ:RXST) shares traded up 0.9% during mid-day trading on Friday . The company traded as high as $47.89 and last traded at $46.80. 96,595 shares were traded during mid-day trading, a decline of 80% from the average session volume of 485,822 shares. The stock had previously closed at $46.40.

Analysts Set New Price Targets

Several research firms recently issued reports on RXST. Wells Fargo & Company reduced their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Oppenheimer decreased their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Stifel Nicolaus dropped their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. 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 for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $61.63.

RxSight Stock Performance

The stock has a market cap of $1.89 billion, a PE ratio of -56.48 and a beta of 1.19. The business has a 50 day moving average price of $48.58 and a two-hundred day moving average price of $52.31.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,225,096.82. The trade was a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shweta Maniar sold 3,782 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the transaction, the director now owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,702 shares of company stock valued at $3,059,197. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently modified their holdings of the stock. Brown Capital Management LLC bought a new position in RxSight during the third quarter valued at $26,813,000. Point72 Asset Management L.P. increased its holdings in RxSight by 610.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after acquiring an additional 384,041 shares during the last quarter. Marshall Wace LLP bought a new stake in RxSight in the 2nd quarter valued at about $19,512,000. Driehaus Capital Management LLC lifted its holdings in RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after purchasing an additional 302,367 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in RxSight by 438.8% during the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after purchasing an additional 291,733 shares during the last quarter. Institutional investors 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.