RxSight (NASDAQ:RXST) Shares Up 1.2% - Time to Buy?

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) were up 1.2% on Thursday . The stock traded as high as $45.46 and last traded at $45.34. Approximately 43,486 shares traded hands during trading, a decline of 91% from the average daily volume of 487,565 shares. The stock had previously closed at $44.81.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RXST shares. Wells Fargo & Company dropped their target price on RxSight from $68.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Oppenheimer cut their price target on RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their price target on RxSight from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. 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 on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, RxSight presently has a consensus rating of "Buy" and an average price target of $61.63.

RxSight Stock Up 0.7 %

The business's 50-day simple moving average is $49.78 and its two-hundred day simple moving average is $52.98. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -54.63 and a beta of 1.19.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,100 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at $1,901,070. This represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Anderson Corley acquired 11,111 shares of the stock in a transaction that occurred 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 purchase, the director now owns 468,571 shares in the company, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 52,720 shares of company stock worth $2,603,950 over the last 90 days. Corporate insiders own 9.36% of the company's stock.

Hedge Funds Weigh In On RxSight

Several large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company's stock valued at $25,000 after buying an additional 371 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock valued at $29,000 after buying an additional 521 shares during the last quarter. Quarry LP lifted its stake in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after buying an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in RxSight in the third quarter valued at $34,000. Finally, Quest Partners LLC bought a new stake in RxSight in the second quarter valued at $41,000. 78.78% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.