RxSight (NASDAQ:RXST) Stock Price Down 1.7% - Should You Sell?

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) were down 1.7% during mid-day trading on Monday . The stock traded as low as $45.50 and last traded at $46.07. Approximately 72,896 shares changed hands during trading, a decline of 85% from the average daily volume of 484,728 shares. The stock had previously closed at $46.88.

Analyst Upgrades and Downgrades

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

RxSight Stock Down 2.5 %

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -55.28 and a beta of 1.19. The business's 50 day simple moving average is $48.58 and its 200 day simple moving average is $52.17.

Insider Transactions at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $45.00, for a total value of $139,500.00. Following the transaction, the insider now directly owns 42,246 shares of the company's stock, valued at $1,901,070. This trade represents a 6.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction that occurred 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 sale, the director now directly owns 10,902 shares in the company, valued at $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,702 shares of company stock worth $3,059,197. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in RxSight by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company's stock worth $78,634,000 after acquiring an additional 40,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of RxSight by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company's stock worth $3,143,000 after purchasing an additional 994 shares during the period. California State Teachers Retirement System lifted its position in shares of RxSight by 6.8% in the 1st quarter. California State Teachers Retirement System now owns 27,052 shares of the company's stock worth $1,395,000 after purchasing an additional 1,733 shares during the period. CWM LLC lifted its position 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of RxSight in the 2nd quarter worth approximately $3,754,000. 78.78% of the stock is owned by 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.

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