RxSight’s (RXST) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of RxSight (NASDAQ:RXST) in a research note published on Wednesday, Marketbeat reports. Wells Fargo & Company currently has a $42.00 price objective on the stock, down from their previous price objective of $56.00.

A number of other brokerages have also weighed in on RXST. Jefferies Financial Group began coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. UBS Group started coverage on RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, RxSight presently has an average rating of “Moderate Buy” and an average price target of $62.13.

RxSight Stock Performance

Shares of NASDAQ RXST opened at $37.30 on Wednesday. The business’s 50 day moving average price is $46.98 and its 200-day moving average price is $50.86. RxSight has a fifty-two week low of $34.92 and a fifty-two week high of $66.54. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -44.94 and a beta of 1.11.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $46.08, for a total transaction of $143,078.40. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at $1,946,695.68. This represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction dated 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 transaction, the director now owns 10,902 shares in the company, valued at $500,183.76. This trade represents a 25.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,807 shares of company stock worth $3,202,275 over the last 90 days. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of RXST. CWM LLC increased its position in shares of 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 in the last quarter. Nisa Investment Advisors LLC increased its position in RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares in the last quarter. Quarry LP raised its stake in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in RxSight in the third quarter worth about $34,000. Finally, Quest Partners LLC acquired a new stake in RxSight in the second quarter worth about $41,000. Hedge funds and other 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.