RxSight (NASDAQ:RXST) Trading Down 0.9% - What's Next?

RxSight, Inc. (NASDAQ:RXST - Get Free Report) dropped 0.9% on Thursday . The company traded as low as $42.36 and last traded at $42.79. Approximately 71,351 shares changed hands during trading, a decline of 85% from the average daily volume of 485,983 shares. The stock had previously closed at $43.16.

Wall Street Analysts Forecast Growth

RXST has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price target on shares of RxSight in a research note on Friday, September 13th. Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $65.29.

RxSight Stock Performance

The company has a market cap of $1.71 billion, a PE ratio of -51.55 and a beta of 1.11. The company's 50 day moving average price is $48.25 and its 200-day moving average price is $51.87.

Insiders Place Their Bets

In related news, Director Shweta Maniar sold 3,782 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares of the company's stock, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 42,246 shares in the company, valued at $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 sold 65,807 shares of company stock valued at $3,202,275 over the last ninety days. 9.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC purchased a new position in RxSight during the third quarter worth about $215,000. Geode Capital Management LLC grew its holdings in shares of RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company's stock worth $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Barclays PLC increased its position in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company's stock worth $2,906,000 after purchasing an additional 46,783 shares during the last quarter. MML Investors Services LLC purchased a new stake in RxSight in the third quarter valued at approximately $452,000. Finally, MCIA Inc lifted its position in RxSight by 5.7% during 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 last quarter. 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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