RxSight (NASDAQ:RXST) Trading 0.9% Higher – Should You Buy?

RxSight, Inc. (NASDAQ:RXST)’s share price traded up 0.9% during mid-day trading on Friday . The company traded as high as $47.89 and last traded at $46.80. 96,595 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 485,822 shares. The stock had previously closed at $46.40.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Oppenheimer reduced their price objective on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group began coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Wells Fargo & Company lowered their price target on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their price objective on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, RxSight has a consensus rating of “Buy” and a consensus target price of $61.63.

RxSight Stock Up 1.0 %

The company has a fifty day moving average of $48.85 and a 200 day moving average of $52.44. The company has a market cap of $1.89 billion, a P/E ratio of -56.39 and a beta of 1.19.

Insider Activity

In related news, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,247,064.74. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 62,702 shares of company stock valued at $3,059,197 in the last quarter. 9.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RXST. CWM LLC raised its stake in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after acquiring an additional 371 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Quarry LP raised its position in shares of RxSight by 82.3% during the 3rd 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 purchased a new position in shares of RxSight during the 3rd quarter valued at $34,000. Finally, Quest Partners LLC bought a new position in RxSight in the 2nd quarter worth $41,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.