RxSight (NASDAQ:RXST) Trading 0.3% Higher - Here's What Happened

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) traded up 0.3% during trading on Wednesday . The stock traded as high as $44.33 and last traded at $43.68. 72,373 shares were traded during trading, a decline of 85% from the average session volume of 485,152 shares. The stock had previously closed at $43.56.

Wall Street Analyst Weigh In

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

RxSight Stock Performance

The business's fifty day moving average is $48.36 and its two-hundred day moving average is $51.94. The company has a market cap of $1.74 billion, a P/E ratio of -52.63 and a beta of 1.11.

Insider Activity

In related news, insider Ilya Goldshleger sold 3,100 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the completion of the transaction, the insider now owns 42,246 shares in the company, valued at $2,247,064.74. The trade was a 6.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,782 shares of the business'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 transaction, the director now 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 quarter, insiders sold 65,807 shares of company stock worth $3,202,275. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

Several large investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company's stock valued at $25,000 after acquiring an additional 371 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock worth $29,000 after buying an additional 521 shares in the last quarter. Quarry LP boosted its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company's stock worth $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in RxSight during the third quarter worth $34,000. Finally, Quest Partners LLC purchased a new stake in RxSight during the second quarter worth $41,000. Hedge funds and other 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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