RxSight (NASDAQ:RXST) Coverage Initiated at UBS Group

UBS Group began coverage on shares of RxSight (NASDAQ:RXST - Free Report) in a research note released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $52.00 price target on the stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC restated a "buy" rating and set a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $63.63.

RxSight Trading Up 2.1 %

NASDAQ RXST traded up $0.87 during trading on Friday, hitting $43.15. 584,410 shares of the company's stock were exchanged, compared to its average volume of 487,967. The company has a market cap of $1.74 billion, a PE ratio of -50.94 and a beta of 1.11. RxSight has a fifty-two week low of $33.09 and a fifty-two week high of $66.54. The stock's 50 day moving average price is $48.11 and its two-hundred day moving average price is $51.81.

Insider Activity at RxSight

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of the stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ilya Goldshleger sold 3,100 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total value of $164,889.00. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,247,064.74. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,807 shares of company stock worth $3,202,275 over the last ninety days. Insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

Several hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. increased its position in RxSight by 6.0% in the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company's stock valued at $193,609,000 after buying an additional 222,000 shares in the last quarter. State Street Corp increased its holdings 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 acquiring an additional 62,349 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock worth $40,398,000 after purchasing an additional 122,775 shares during the period. Driehaus Capital Management LLC raised its position in shares of RxSight by 74.9% during the second 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 period. Finally, Brown Capital Management LLC bought a new position in shares of RxSight in the 3rd quarter worth $26,813,000. 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.