Brown Capital Management LLC Takes Position in RxSight, Inc. (NASDAQ:RXST)

Brown Capital Management LLC acquired a new position in shares of RxSight, Inc. (NASDAQ:RXST) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 542,437 shares of the company’s stock, valued at approximately $26,813,000. Brown Capital Management LLC owned about 1.47% of RxSight as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in RxSight by 727.5% during the second 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 increased its position in 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. Quest Partners LLC bought a new stake in shares of RxSight during the second quarter valued at about $41,000. KBC Group NV raised its position in shares of RxSight by 63.6% during the 3rd quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after buying an additional 479 shares in the last quarter. Finally, Amalgamated Bank lifted its position in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on RXST shares. Oppenheimer cut their target price on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company decreased their target price on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.63.

Insider Buying and Selling at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of the company’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 sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $2,225,096.82. This represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Anderson Corley purchased 11,111 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired 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 disclosure for this purchase can be found here. Insiders have sold 52,720 shares of company stock valued at $2,603,950 in the last 90 days. 9.36% of the stock is currently owned by company insiders.

RxSight Price Performance

Shares of NASDAQ:RXST opened at $44.81 on Thursday. RxSight, Inc. has a 1-year low of $27.51 and a 1-year high of $66.54. The business’s 50 day moving average is $49.78 and its 200-day moving average is $52.98.

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.