RxSight (NASDAQ:RXST) Trading 3.4% Higher on Insider Buying Activity

RxSight, Inc. (NASDAQ:RXST - Get Free Report) rose 3.4% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $46.38 and last traded at $45.65. Approximately 69,868 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 487,558 shares. The stock had previously closed at $44.16.

Specifically, 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 price of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of research reports. Stifel Nicolaus reduced 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. Needham & Company LLC restated a "buy" rating and issued a $66.00 price target on shares of RxSight in a research report on Friday, September 13th. Wells Fargo & Company reduced their price objective on shares of RxSight from $68.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Oppenheimer lowered their target price on RxSight from $72.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, August 6th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $61.63.

RxSight Trading Up 2.0 %

The business has a 50-day moving average of $50.48 and a 200 day moving average of $53.33. The firm has a market capitalization of $1.82 billion, a P/E ratio of -54.28 and a beta of 1.19.

Hedge Funds Weigh In On RxSight

Several large investors have recently added to or reduced their stakes in the business. CWM LLC raised its holdings 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. Nisa Investment Advisors LLC boosted its holdings in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP grew its stake in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in RxSight during the 3rd quarter valued at $34,000. Finally, Quest Partners LLC bought a new position in shares of RxSight in the second quarter worth $41,000. Institutional investors 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.