RxSight (NASDAQ:RXST) Trading Down 0.8% - Time to Sell?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) dropped 0.8% during trading on Tuesday . The stock traded as low as $45.88 and last traded at $45.99. Approximately 37,939 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 487,885 shares. The stock had previously closed at $46.38.

Analysts Set New Price Targets

RXST has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective 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. Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a "buy" rating and a $72.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $66.00 target price on shares of RxSight in a research report on Friday, September 13th. Wells Fargo & Company cut their target price on shares of RxSight from $68.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Finally, 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 research report on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $61.63.

RxSight Price Performance

The business's 50-day moving average price is $49.20 and its two-hundred day moving average price is $52.57. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -55.41 and a beta of 1.19.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 4,875 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $46.00, for a total value of $224,250.00. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at approximately $1,943,316. The trade was a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley acquired 11,111 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were acquired at an average price of $45.37 per share, with a total value 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 disclosure for this purchase can be found here. Over the last three months, insiders sold 52,720 shares of company stock worth $2,603,950. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Several institutional investors have recently bought and sold shares of RXST. Arete Wealth Advisors LLC purchased a new position in shares of RxSight in the third quarter valued at $215,000. Geode Capital Management LLC boosted its stake in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock valued at $40,398,000 after purchasing an additional 122,775 shares during the period. Barclays PLC boosted its stake in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company's stock valued at $2,906,000 after purchasing an additional 46,783 shares during the period. MML Investors Services LLC purchased a new position in shares of RxSight in the third quarter valued at $452,000. Finally, MCIA Inc boosted its stake in shares of RxSight by 5.7% in the third quarter. MCIA Inc now owns 8,459 shares of the company's stock valued at $385,000 after purchasing an additional 459 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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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