RxSight (NASDAQ:RXST) Reaches New 1-Year Low - Here's What Happened

RxSight, Inc. (NASDAQ:RXST - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $33.00 and last traded at $33.26, with a volume of 80145 shares trading hands. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RXST. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price target on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $42.00 price target (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. UBS Group assumed coverage on shares of RxSight in a research note on Friday, December 6th. They issued a "buy" rating and a $52.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Finally, Stifel Nicolaus lowered RxSight from a "buy" rating to a "hold" rating and decreased their price objective for the company from $65.00 to $40.00 in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

RxSight Trading Down 3.1 %

The firm has a fifty day moving average price of $41.38 and a 200 day moving average price of $47.86. The firm has a market cap of $1.35 billion, a PE ratio of -40.28 and a beta of 1.20.

Insider Transactions at RxSight

In related news, insider Ilya Goldshleger sold 3,105 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the sale, the insider now directly owns 42,246 shares in the company, valued at approximately $1,946,695.68. The trade was a 6.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jesse Anderson Corley acquired 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price 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 disclosure for this purchase can be found here. Insiders have sold a total of 44,102 shares of company stock worth $2,115,075 in the last quarter. Company insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently bought and sold shares of RXST. Nisa Investment Advisors LLC grew its position in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock valued at $29,000 after acquiring an additional 521 shares in the last quarter. Quarry LP grew its position in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in RxSight in the 3rd quarter valued at about $34,000. Quest Partners LLC acquired a new position in RxSight in the 2nd quarter valued at about $41,000. Finally, Amalgamated Bank grew its position in RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company's stock valued at $71,000 after acquiring an additional 207 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.