RxSight (NASDAQ:RXST) Shares Up 1.6% – Time to Buy?

RxSight, Inc. (NASDAQ:RXST)’s share price shot up 1.6% on Monday . The stock traded as high as $45.62 and last traded at $45.53. 97,308 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 486,993 shares. The stock had previously closed at $44.83.

Wall Street Analyst Weigh In

RXST has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price 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 set a “buy” rating and a $72.00 price target for the company. Oppenheimer reduced their price objective on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company lowered their target price on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $61.63.

RxSight Trading Up 3.5 %

The company has a market capitalization of $1.87 billion, a PE ratio of -54.86 and a beta of 1.19. The business has a fifty day moving average of $49.39 and a 200 day moving average of $52.68.

Insider Transactions at RxSight

In related news, Director Jesse Anderson Corley purchased 11,111 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the acquisition, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $2,225,096.82. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,720 shares of company stock valued at $2,603,950. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of RxSight

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of RxSight by 0.7% during the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in RxSight by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock valued at $473,000 after buying an additional 242 shares in the last quarter. Quarry LP lifted its holdings in RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its position in shares of RxSight by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock worth $203,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds 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.