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

Brown Capital Management LLC purchased a new position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 542,437 shares of the company's stock, valued at approximately $26,813,000. Brown Capital Management LLC owned about 1.47% of RxSight at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of RxSight during the 2nd quarter worth $19,512,000. Driehaus Capital Management LLC increased its stake in RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company's stock valued at $42,490,000 after acquiring an additional 302,367 shares during the last quarter. Baillie Gifford & Co. raised its position in RxSight by 438.8% during the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company's stock valued at $21,554,000 after purchasing an additional 291,733 shares in the last quarter. William Blair Investment Management LLC bought a new stake in RxSight during the second quarter worth $14,942,000. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of RxSight in the 3rd quarter valued at $11,350,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Trading Up 0.5 %

Shares of RXST stock traded up $0.24 during trading on Thursday, hitting $45.05. The company's stock had a trading volume of 242,389 shares, compared to its average volume of 488,481. The company has a market cap of $1.82 billion, a PE ratio of -54.28 and a beta of 1.19. The business has a fifty day moving average of $49.59 and a 200-day moving average of $52.92. RxSight, Inc. has a 52 week low of $28.12 and a 52 week high of $66.54.

Insider Activity

In other RxSight news, Director Jesse Anderson Corley acquired 11,111 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now owns 468,571 shares in the company, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $2,247,064.74. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,720 shares of company stock valued at $2,603,950 in the last ninety days. 9.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RXST has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target for the company. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on RxSight from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Finally, Wells Fargo & Company dropped their price target 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $61.63.

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.