RxSight (NASDAQ:RXST) Stock Price Down 3.9% – What’s Next?

RxSight, Inc. (NASDAQ:RXST)’s stock price dropped 3.9% during trading on Thursday . The company traded as low as $30.10 and last traded at $30.10. Approximately 25,378 shares changed hands during trading, a decline of 97% from the average daily volume of 749,574 shares. The stock had previously closed at $31.32.

Analyst Ratings Changes

Several analysts have issued reports on RXST shares. Jefferies Financial Group started coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of RxSight in a report on Monday. UBS Group started coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company reduced their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RxSight presently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

RxSight Stock Performance

The stock has a 50-day simple moving average of $39.71 and a 200 day simple moving average of $47.06. The company has a market cap of $1.25 billion, a P/E ratio of -37.64 and a beta of 1.20.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction dated Friday, November 29th. The shares were 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 owns 42,246 shares in the company, valued at $1,946,695.68. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total transaction 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. The trade was a 25.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,902 shares of company stock valued at $1,805,478 over the last quarter. 9.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. grew its holdings in RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after acquiring an additional 222,000 shares during the last quarter. State Street Corp grew its stake in shares of RxSight by 8.3% during the third quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after purchasing an additional 62,349 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Driehaus Capital Management LLC raised its position in RxSight by 74.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after purchasing an additional 302,367 shares during the last quarter. Finally, Brown Capital Management LLC bought a new position in RxSight in the 3rd quarter valued at $26,813,000. 78.78% of the stock is owned by institutional investors.

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.