RxSight (NASDAQ:RXST) Trading 3.7% Higher - What's Next?

RxSight, Inc. (NASDAQ:RXST - Get Free Report)'s share price rose 3.7% during mid-day trading on Monday . The company traded as high as $38.70 and last traded at $38.67. Approximately 133,663 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 504,459 shares. The stock had previously closed at $37.30.

Wall Street Analyst Weigh In

RXST has been the topic of several research reports. Wells Fargo & Company reissued an "equal weight" rating and set a $42.00 price objective (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a "buy" rating and a $72.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price target on shares of RxSight in a report on Friday, September 13th. Finally, UBS Group assumed coverage on shares of RxSight in a research report on Friday, December 6th. They issued a "buy" rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $62.13.

RxSight Price Performance

The business's 50 day simple moving average is $46.79 and its 200-day simple moving average is $50.57. The stock has a market capitalization of $1.55 billion, a P/E ratio of -46.37 and a beta of 1.11.

Insider Transactions at RxSight

In other news, Director Jesse Anderson Corley bought 11,111 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares in the company, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,807 shares of company stock worth $3,202,275 in the last three months. Insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

Several hedge funds have recently added to or reduced their stakes in RXST. CWM LLC grew its stake in RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company's stock valued at $25,000 after acquiring an additional 371 shares during the period. Raymond James & Associates bought a new stake in RxSight during the 2nd quarter worth approximately $3,549,000. Summit Global Investments acquired a new stake in RxSight during the 2nd quarter worth approximately $628,000. Baillie Gifford & Co. lifted its stake in RxSight by 438.8% in the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company's stock valued at $21,554,000 after buying an additional 291,733 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of RxSight in the second quarter valued at approximately $207,000. 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.