RxSight (NASDAQ:RXST) Stock Price Down 0.9% – Here’s Why

RxSight, Inc. (NASDAQ:RXST) shares fell 0.9% on Thursday . The stock traded as low as $42.36 and last traded at $42.79. 71,351 shares traded hands during trading, a decline of 85% from the average session volume of 485,983 shares. The stock had previously closed at $43.16.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RXST. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group started coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $65.29.

RxSight Trading Down 1.6 %

The company’s 50 day simple moving average is $48.25 and its 200-day simple moving average is $51.87. The firm has a market cap of $1.71 billion, a P/E ratio of -51.55 and a beta of 1.11.

Insider Activity

In other news, Director Shweta Maniar sold 3,782 shares of the stock in a transaction that occurred 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 transaction, the director now owns 10,902 shares in the company, valued at $500,183.76. This represents a 25.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the transaction, the insider now owns 42,246 shares in the company, valued at $2,225,096.82. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,807 shares of company stock valued at $3,202,275 over the last three months. Insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in RxSight by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company’s stock valued at $3,143,000 after acquiring an additional 994 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of RxSight by 6.8% in the first quarter. California State Teachers Retirement System now owns 27,052 shares of the company’s stock worth $1,395,000 after purchasing an additional 1,733 shares during the last quarter. CWM LLC lifted its position in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after buying an additional 371 shares in the last quarter. SG Americas Securities LLC bought a new position in RxSight during the second quarter valued at approximately $3,754,000. Finally, M&G Plc grew its holdings in RxSight by 12.4% during the 2nd quarter. M&G Plc now owns 159,005 shares of the company’s stock valued at $9,540,000 after buying an additional 17,577 shares in 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.