RxSight (NASDAQ:RXST) Trading Up 3.7% – Time to Buy?

RxSight, Inc. (NASDAQ:RXST)’s stock price rose 3.7% during trading on Monday . The company traded as high as $38.70 and last traded at $38.67. Approximately 133,663 shares traded hands during trading, a decline of 74% from the average daily volume of 504,459 shares. The stock had previously closed at $37.30.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RXST. Wells Fargo & Company restated an “equal weight” rating and issued a $42.00 price objective (down from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a report on Friday, September 13th. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.13.

RxSight Trading Down 2.2 %

The stock has a 50 day simple moving average of $46.56 and a 200-day simple moving average of $50.43. The firm has a market capitalization of $1.50 billion, a P/E ratio of -44.82 and a beta of 1.11.

Insiders Place Their Bets

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the sale, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,807 shares of company stock worth $3,202,275. Company insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently made changes to their positions in RXST. CWM LLC lifted its holdings in RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Quarry LP grew its stake in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in RxSight in the 3rd quarter valued at $34,000. Finally, Quest Partners LLC purchased a new stake in RxSight in the 2nd quarter worth $41,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.