Needham & Company LLC Reaffirms Buy Rating for RxSight (NASDAQ:RXST)

Needham & Company LLC reiterated their buy rating on shares of RxSight (NASDAQ:RXST - Free Report) in a research note published on Monday morning,Benzinga reports. The brokerage currently has a $66.00 price objective on the stock.

Several other equities analysts have also recently issued reports on RXST. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They issued a "buy" rating and a $52.00 price objective for the company. Stifel Nicolaus lowered RxSight from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $65.00 to $40.00 in a research report on Friday, December 20th. Wells Fargo & Company restated an "equal weight" rating and set a $42.00 price target (down previously from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.38.

RxSight Stock Performance

NASDAQ RXST traded down $3.43 on Monday, reaching $30.00. 1,200,683 shares of the company's stock traded hands, compared to its average volume of 675,806. RxSight has a fifty-two week low of $26.29 and a fifty-two week high of $66.54. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -36.14 and a beta of 1.20. The stock has a 50 day moving average price of $41.02 and a 200-day moving average price of $47.58.

Insider Transactions at RxSight

In other news, Director Shweta Maniar sold 3,782 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the sale, the director now owns 10,902 shares of the company's stock, valued at $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 of the company's stock, valued at $1,946,695.68. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,002 shares of company stock valued at $1,959,796 over the last 90 days. Corporate insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

Several large investors have recently bought and sold shares of RXST. Nisa Investment Advisors LLC boosted its holdings in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock worth $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP increased its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in RxSight during the third quarter worth approximately $34,000. Quest Partners LLC acquired a new position in RxSight during the second quarter worth $41,000. Finally, KBC Group NV boosted its stake in RxSight by 63.6% during the third quarter. KBC Group NV now owns 1,232 shares of the company's stock worth $61,000 after buying an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 78.78% of the company's stock.

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.