RxSight (NASDAQ:RXST) Stock Price Up 1.6% - What's Next?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) rose 1.6% during trading on Monday . The company traded as high as $45.62 and last traded at $45.53. Approximately 97,308 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 486,993 shares. The stock had previously closed at $44.83.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RXST. Wells Fargo & Company decreased their price objective on shares of RxSight from $68.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group initiated coverage on RxSight in a research report on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Stifel Nicolaus reduced their price target on RxSight from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Finally, Oppenheimer dropped their price objective on shares of RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight presently has an average rating of "Buy" and a consensus price target of $61.63.

RxSight Trading Up 3.5 %

The business has a 50-day moving average price of $49.39 and a 200-day moving average price of $52.68. The stock has a market cap of $1.87 billion, a PE ratio of -54.86 and a beta of 1.19.

Insiders Place Their Bets

In related news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $52.67, for a total value of $163,277.00. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company's stock, valued at approximately $2,225,096.82. This represents a 6.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley acquired 11,111 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the acquisition, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 52,720 shares of company stock worth $2,603,950. Company insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

Hedge funds have recently bought and sold shares of the business. Arete Wealth Advisors LLC purchased a new stake in shares of RxSight in the third quarter valued at approximately $215,000. Geode Capital Management LLC boosted its stake in RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock worth $40,398,000 after buying an additional 122,775 shares during the last quarter. Barclays PLC grew its holdings in RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after buying an additional 46,783 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of RxSight in the 3rd quarter worth $452,000. Finally, MCIA Inc raised its holdings in shares of RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company's stock worth $385,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds own 78.78% of the company's stock.

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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