RxSight (NASDAQ:RXST) Stock Price Up 0.3% – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST)’s stock price was up 0.3% on Wednesday . The company traded as high as $44.33 and last traded at $43.68. Approximately 72,373 shares changed hands during trading, a decline of 85% from the average daily volume of 485,152 shares. The stock had previously closed at $43.56.

Analyst Ratings Changes

A number of analysts recently weighed in on RXST shares. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. UBS Group started coverage on shares of RxSight in a research note on Friday. They set a “buy” rating and a $52.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $63.63.

RxSight Stock Performance

The stock’s fifty day moving average price is $48.11 and its 200-day moving average price is $51.81. The firm has a market cap of $1.74 billion, a PE ratio of -50.94 and a beta of 1.11.

Insider Activity

In related news, Director Shweta Maniar sold 3,782 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at $2,247,064.74. This 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 worth $3,202,275 in the last 90 days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its position in RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after buying an additional 371 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the period. Quarry LP increased its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the third quarter valued at $34,000. Finally, Quest Partners LLC acquired a new position in shares of RxSight during the second quarter valued at $41,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.