RxSight (NASDAQ:RXST) Stock Price Down 0.7% – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST) dropped 0.7% during trading on Tuesday . The stock traded as low as $37.77 and last traded at $38.22. Approximately 145,300 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 506,191 shares. The stock had previously closed at $38.49.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RXST shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Finally, UBS Group began coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.13.

RxSight Stock Down 0.9 %

The stock’s fifty day simple moving average is $46.79 and its two-hundred day simple moving average is $50.57. The firm has a market cap of $1.54 billion, a PE ratio of -46.05 and a beta of 1.11.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley acquired 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the transaction, the director now owns 468,571 shares in the company, valued at $21,259,066.27. The trade was a 2.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 1,330 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total value of $61,352.90. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at $1,948,807.98. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,807 shares of company stock valued at $3,202,275. 9.36% of the stock is owned by insiders.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently made changes to their positions in the business. Brown Capital Management LLC purchased a new position in RxSight in the 3rd quarter worth approximately $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 valued at $22,094,000 after acquiring an additional 384,041 shares during the last quarter. Marshall Wace LLP purchased a new stake in RxSight in the 2nd quarter worth $19,512,000. Driehaus Capital Management LLC grew its holdings 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 in the last quarter. Finally, Baillie Gifford & Co. increased its stake in RxSight by 438.8% in the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock worth $21,554,000 after acquiring an additional 291,733 shares during the last quarter. 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.