RxSight (NASDAQ:RXST) Stock Price Down 4.7% - Here's What Happened

RxSight, Inc. (NASDAQ:RXST - Get Free Report)'s stock price traded down 4.7% during mid-day trading on Friday . The company traded as low as $30.54 and last traded at $30.37. 84,028 shares were traded during mid-day trading, a decline of 86% from the average session volume of 601,876 shares. The stock had previously closed at $31.87.

Analysts Set New Price Targets

Several equities analysts have weighed in on RXST shares. Wells Fargo & Company cut their target price on RxSight from $42.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus cut their price objective on RxSight from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Monday, January 13th. Needham & Company LLC restated a "buy" rating and issued a $66.00 target price on shares of RxSight in a report on Monday, January 13th. Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target on the stock. Finally, UBS Group began coverage on shares of RxSight in a research note on Friday, December 6th. They issued a "buy" rating and a $52.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.13.

RxSight Stock Up 3.3 %

The firm has a market cap of $1.24 billion, a P/E ratio of -37.11 and a beta of 1.19. The stock's 50-day moving average is $33.54 and its 200-day moving average is $44.07.

Insider Transactions at RxSight

In other news, insider Ilya Goldshleger sold 3,100 shares of RxSight 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 $142,228.00. Following the sale, the insider now owns 42,246 shares of the company's stock, valued at approximately $1,938,246.48. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley bought 1,443 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares of the company's stock, valued at $44,992.74. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 16,606 shares of company stock worth $706,956. 9.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RxSight

Hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in RxSight by 23.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,958 shares of the company's stock valued at $2,921,000 after acquiring an additional 16,140 shares during the period. Voloridge Investment Management LLC boosted its holdings in RxSight by 138.9% during the fourth quarter. Voloridge Investment Management LLC now owns 365,617 shares of the company's stock valued at $12,570,000 after purchasing an additional 212,599 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of RxSight by 12.5% in the 4th quarter. Squarepoint Ops LLC now owns 133,125 shares of the company's stock valued at $4,577,000 after purchasing an additional 14,799 shares during the period. Tidal Investments LLC bought a new position in shares of RxSight during the 4th quarter worth approximately $355,000. Finally, State of Wyoming bought a new position in shares of RxSight during the 4th quarter worth approximately $37,000. 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.