RxSight (NASDAQ:RXST) Shares Down 3.9% – Should You Sell?

RxSight, Inc. (NASDAQ:RXST) dropped 3.9% on Thursday . The stock traded as low as $30.10 and last traded at $30.10. Approximately 25,378 shares changed hands during trading, a decline of 97% from the average daily volume of 749,574 shares. The stock had previously closed at $31.32.

Analyst Upgrades and Downgrades

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

RxSight Trading Down 1.0 %

The company has a market cap of $1.25 billion, a P/E ratio of -37.64 and a beta of 1.20. The company’s 50-day moving average price is $39.71 and its two-hundred day moving average price is $47.06.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,946,695.68. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was 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 in the company, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,902 shares of company stock worth $1,805,478. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank grew its position in RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after buying an additional 207 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after acquiring an additional 240 shares in the last quarter. Quarry LP raised its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in RxSight by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares in the last quarter. Finally, MCIA Inc boosted its stake in RxSight by 5.7% during the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.