RxSight (NASDAQ:RXST) Stock Price Up 1.3% - Should You Buy?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shares were up 1.3% on Friday . The company traded as high as $36.48 and last traded at $36.37. Approximately 156,454 shares changed hands during trading, a decline of 69% from the average daily volume of 502,284 shares. The stock had previously closed at $35.89.

Wall Street Analyst Weigh In

RXST has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of RxSight in a research report on Friday, December 6th. They set a "buy" rating and a $52.00 price target on the stock. Jefferies Financial Group initiated coverage on RxSight in a research note on Tuesday, October 29th. They issued a "buy" rating and a $72.00 price target for the company. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $42.00 price target (down previously from $56.00) on shares of RxSight in a report on Wednesday. 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.13.

RxSight Price Performance

The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -43.82 and a beta of 1.11. The stock has a fifty day moving average of $47.21 and a two-hundred day moving average of $51.02.

Insider Buying and Selling at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $46.08, for a total transaction of $143,078.40. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,946,695.68. This represents a 6.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shweta Maniar sold 3,782 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 of the company's stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,807 shares of company stock valued at $3,202,275. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Algert Global LLC bought a new stake in RxSight in the second quarter worth about $2,488,000. Victory Capital Management Inc. grew its stake in shares of RxSight by 21.0% during the 3rd quarter. Victory Capital Management Inc. now owns 259,864 shares of the company's stock worth $12,845,000 after acquiring an additional 45,161 shares during the period. Bank of New York Mellon Corp increased its holdings in RxSight by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company's stock worth $7,190,000 after acquiring an additional 17,368 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in RxSight by 17.0% during the third quarter. Baillie Gifford & Co. now owns 419,004 shares of the company's stock valued at $20,711,000 after purchasing an additional 60,789 shares during the last quarter. Finally, Legato Capital Management LLC boosted its position in RxSight by 46.7% during the second quarter. Legato Capital Management LLC now owns 29,800 shares of the company's stock worth $1,793,000 after purchasing an additional 9,486 shares during the period. Institutional investors 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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