RxSight, Inc. (NASDAQ:RXST) Receives $58.13 Average Price Target from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $58.13.

A number of research firms have commented on RXST. Wells Fargo & Company decreased their target price on shares of RxSight from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday. Stifel Nicolaus decreased their price objective on shares of RxSight from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of RxSight in a research report on Monday. UBS Group started coverage on RxSight in a research report on Friday, December 6th. They issued a "buy" rating and a $52.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on RxSight in a research note on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target on the stock.

RxSight Stock Performance

Shares of RxSight stock traded down $0.14 during trading hours on Thursday, hitting $31.18. The company's stock had a trading volume of 508,331 shares, compared to its average volume of 798,193. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -37.57 and a beta of 1.20. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54. The firm has a fifty day moving average of $39.71 and a 200-day moving average of $47.06.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the transaction, the insider now owns 42,246 shares in the company, valued at approximately $1,946,695.68. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley bought 11,111 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares of the company's stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 37,902 shares of company stock worth $1,805,478 over the last 90 days. Corporate 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 modified their holdings of RXST. Geode Capital Management LLC increased its holdings in 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 buying an additional 122,775 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of RxSight by 21.0% in the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company's stock valued at $12,845,000 after acquiring an additional 45,161 shares during the last quarter. Algert Global LLC acquired a new stake in shares of RxSight during the 2nd quarter worth about $2,488,000. Baillie Gifford & Co. raised its position in shares of RxSight by 17.0% during the 3rd quarter. Baillie Gifford & Co. now owns 419,004 shares of the company's stock worth $20,711,000 after acquiring an additional 60,789 shares in the last quarter. Finally, Barclays PLC lifted its stake in RxSight by 389.8% during the third quarter. Barclays PLC now owns 58,786 shares of the company's stock worth $2,906,000 after purchasing an additional 46,783 shares during the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

About RxSight

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.