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

RxSight, Inc. (NASDAQ:RXST) shares were up 1.6% on Wednesday . The stock traded as high as $47.40 and last traded at $46.79. Approximately 49,971 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 486,818 shares. The stock had previously closed at $46.06.

Analyst Upgrades and Downgrades

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

RxSight Stock Up 0.7 %

The company’s 50 day moving average price is $48.85 and its 200 day moving average price is $52.44.

Insider Buying and Selling

In other RxSight news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were 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 in the company, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction on Friday, September 20th. The shares were sold at an average price of $53.19, for a total value of $164,889.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,247,064.74. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,702 shares of company stock worth $3,059,197 in the last three months. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RXST. RA Capital Management L.P. increased its holdings in RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after purchasing an additional 222,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in RxSight by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock worth $78,634,000 after acquiring an additional 40,500 shares during the last quarter. State Street Corp grew its holdings in RxSight by 8.3% during the third quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after purchasing an additional 62,349 shares during the period. Geode Capital Management LLC increased its stake in RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after purchasing an additional 122,775 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after purchasing an additional 302,367 shares during the period. 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.