RxSight (NASDAQ:RXST) Shares Up 1.6% - Should You Buy?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shot up 1.6% during mid-day trading on Wednesday . The stock traded as high as $47.40 and last traded at $46.79. 49,971 shares were traded during trading, a decline of 90% from the average session volume of 486,818 shares. The stock had previously closed at $46.06.

Analyst Ratings Changes

A number of research analysts have commented on the company. Oppenheimer reduced their target price on RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Stifel Nicolaus dropped their target price on shares of 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 assumed coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a "buy" rating and a $72.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on RxSight from $68.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, RxSight presently has a consensus rating of "Buy" and a consensus price target of $61.63.

RxSight Stock Up 0.7 %

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -55.78 and a beta of 1.19. The company has a 50-day moving average price of $49.00 and a 200-day moving average price of $52.48.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,100 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the sale, the insider now owns 42,246 shares of the company's stock, valued at $2,247,064.74. The trade was a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now directly owns 10,902 shares of the company's stock, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,702 shares of company stock worth $3,059,197. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its holdings in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company's stock worth $25,000 after purchasing an additional 371 shares in the last quarter. Nisa Investment Advisors LLC grew its position in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock worth $29,000 after buying an additional 521 shares during the last quarter. Quarry LP lifted its position in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of RxSight during the 3rd quarter worth $34,000. Finally, Quest Partners LLC acquired a new position in shares of RxSight in the 2nd quarter worth $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.

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