RxSight (NASDAQ:RXST) Stock Price Down 1.7% - Time to Sell?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shares dropped 1.7% on Wednesday . The company traded as low as $43.98 and last traded at $44.35. Approximately 30,951 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 488,415 shares. The stock had previously closed at $45.12.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of RxSight in a report on Friday, September 13th. Wells Fargo & Company cut their price objective on shares of RxSight from $68.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Jefferies Financial Group assumed 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 reduced their price objective on shares of RxSight from $72.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their target price on shares of RxSight from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $61.63.

RxSight Stock Down 0.5 %

The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -53.43 and a beta of 1.19. The stock's 50-day moving average price is $49.97 and its 200 day moving average price is $53.04.

Insider Buying and Selling at RxSight

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of RxSight stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost 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 approximately $21,259,066.27. The trade was a 2.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at $2,225,096.82. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,720 shares of company stock worth $2,603,950 over the last three months. Company insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

A number of large investors have recently added to or reduced their stakes in RXST. Swiss National Bank lifted its holdings in shares of RxSight by 16.2% during the 1st quarter. Swiss National Bank now owns 53,100 shares of the company's stock worth $2,739,000 after acquiring an additional 7,400 shares during the period. ProShare Advisors LLC bought a new stake in shares of RxSight in the 1st quarter worth $263,000. Vanguard Group Inc. lifted its holdings in RxSight by 2.7% during the first 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 period. Price T Rowe Associates Inc. MD grew its position in shares of RxSight by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,908 shares of the company's stock valued at $3,143,000 after acquiring an additional 994 shares during the period. Finally, Caxton Associates LP bought a new stake in RxSight in the 1st quarter valued at about $1,208,000. Institutional investors and hedge funds own 78.78% of the company's stock.

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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