RxSight (NASDAQ:RXST) Trading 1.6% Higher – What’s Next?

Shares of RxSight, Inc. (NASDAQ:RXST) shot up 1.6% on Monday . The company traded as high as $45.62 and last traded at $45.53. 97,308 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 486,993 shares. The stock had previously closed at $44.83.

Analyst Upgrades and Downgrades

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

RxSight Trading Up 0.7 %

The company has a market cap of $1.87 billion, a PE ratio of -55.78 and a beta of 1.19. The firm’s fifty day moving average is $49.00 and its 200 day moving average is $52.48.

Insider Transactions at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $1,901,070. This represents a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 in the company, 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. Insiders sold 62,702 shares of company stock valued at $3,059,197 over the last 90 days. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC increased its position in shares of RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Quarry LP raised its stake in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of RxSight in the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC purchased a new position in shares of RxSight during the 2nd quarter worth approximately $41,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.