RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $58.13.

Several research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus decreased their target price on RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Finally, UBS Group started coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock.

Insider Activity

In other news, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value 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 $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ilya Goldshleger sold 1,330 shares of RxSight stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $46.13, for a total transaction of $61,352.90. Following the transaction, the insider now owns 42,246 shares in the company, valued at approximately $1,948,807.98. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,697 shares of company stock valued at $1,495,941 in the last 90 days. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently bought and sold shares of RXST. Brown Capital Management LLC bought a new position in shares of RxSight in the third quarter worth about $26,813,000. Point72 Asset Management L.P. lifted 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 purchasing an additional 384,041 shares in the last quarter. Marshall Wace LLP bought a new position in RxSight in the 2nd quarter worth approximately $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, Thrivent Financial for Lutherans bought a new stake in shares of RxSight during the third quarter valued at approximately $11,350,000. 78.78% of the stock is owned by institutional investors.

RxSight Stock Down 2.5 %

Shares of NASDAQ RXST opened at $30.39 on Thursday. The firm has a market cap of $1.22 billion, a P/E ratio of -36.61 and a beta of 1.20. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54. The company has a 50 day moving average of $38.65 and a 200 day moving average of $46.44.

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.