RxSight (NASDAQ:RXST) Trading Down 0.1% - What's Next?

RxSight, Inc. (NASDAQ:RXST - Get Free Report)'s stock price traded down 0.1% during mid-day trading on Monday . The stock traded as low as $42.62 and last traded at $43.11. 278,187 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 486,983 shares. The stock had previously closed at $43.15.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RXST shares. UBS Group started coverage on shares of RxSight in a research report on Friday. They issued a "buy" rating and a $52.00 price objective for the company. Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They set a "buy" rating and a $72.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, RxSight has a consensus rating of "Buy" and an average target price of $63.63.

RxSight Price Performance

The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -45.81 and a beta of 1.11. The firm's fifty day moving average is $48.01 and its 200 day moving average is $51.53.

Insider Activity

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Anderson Corley bought 11,111 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, with a total value of $504,106.07. Following the completion of the transaction, the director now directly owns 468,571 shares of the company's stock, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 65,807 shares of company stock worth $3,202,275 in the last ninety days. Corporate insiders own 9.36% of the company's stock.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently made changes to their positions in RXST. CWM LLC raised its stake 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Quarry LP raised its position in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company's stock valued at $32,000 after purchasing an additional 288 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of RxSight in the third quarter worth $34,000. Finally, Quest Partners LLC bought a new stake in shares of RxSight during the 2nd quarter worth $41,000. 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.

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