RxSight (NASDAQ:RXST) Stock Price Up 1.7% - Time to Buy?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shot up 1.7% during trading on Friday . The stock traded as high as $45.81 and last traded at $45.81. 50,411 shares were traded during trading, a decline of 90% from the average session volume of 486,430 shares. The stock had previously closed at $45.05.

Analyst Upgrades and Downgrades

A number of research firms have commented on RXST. Wells Fargo & Company decreased their price target on RxSight from $68.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on RxSight from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Oppenheimer cut their target price on shares of RxSight from $72.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, August 6th. Jefferies Financial Group started coverage on RxSight in a research report on Tuesday, October 29th. They set a "buy" rating and a $72.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $61.63.

RxSight Trading Up 0.2 %

The firm has a market capitalization of $1.82 billion, a PE ratio of -55.19 and a beta of 1.19. The company has a fifty day moving average price of $49.59 and a two-hundred day moving average price of $52.92.

Insider Buying and Selling at RxSight

In other news, Director Jesse Anderson Corley bought 11,111 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now owns 468,571 shares of the company's stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 4,875 shares of RxSight stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $46.00, for a total value of $224,250.00. Following the sale, the insider now owns 42,246 shares in the company, valued at $1,943,316. This represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,720 shares of company stock valued at $2,603,950. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Several large investors have recently added to or reduced their stakes in RXST. M&G Plc lifted its holdings in shares of RxSight by 12.4% in the 2nd quarter. M&G Plc now owns 159,005 shares of the company's stock worth $9,540,000 after purchasing an additional 17,577 shares during the last quarter. Vanguard Group Inc. grew its holdings in RxSight by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company's stock worth $78,634,000 after buying an additional 40,500 shares in the last quarter. Algert Global LLC bought a new stake in RxSight during the 2nd quarter valued at $2,488,000. Caxton Associates LP acquired a new position in RxSight during the 1st quarter worth $1,208,000. Finally, Bank of New York Mellon Corp increased its stake in RxSight by 17.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company's stock valued at $7,190,000 after buying an additional 17,368 shares during the period. 78.78% of the stock is currently 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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