RxSight, Inc. (NASDAQ:RXST) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its holdings in RxSight, Inc. (NASDAQ:RXST) by 39.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,049,822 shares of the company’s stock after selling 685,463 shares during the quarter. Lord Abbett & CO. LLC owned 2.61% of RxSight worth $51,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Amalgamated Bank boosted its position 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 during the period. Principal Financial Group Inc. increased its position in 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 acquiring an additional 240 shares during the period. Crossmark Global Holdings Inc. raised its holdings in RxSight by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock valued at $473,000 after acquiring an additional 242 shares in the last quarter. Quarry LP raised its stake in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Finally, RiverPark Advisors LLC raised its stake in RxSight by 9.6% during the second 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. 78.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RxSight

In related news, Director Jesse Anderson Corley purchased 11,111 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the transaction, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $45.00, for a total transaction of $139,500.00. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,901,070. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,807 shares of company stock worth $3,202,275. Insiders own 9.36% of the company’s stock.

RxSight Price Performance

RXST stock opened at $37.30 on Friday. The stock has a market capitalization of $1.50 billion, a PE ratio of -44.94 and a beta of 1.11. The company’s 50-day moving average is $46.98 and its 200-day moving average is $50.79. RxSight, Inc. has a 1 year low of $34.92 and a 1 year high of $66.54.

Wall Street Analyst Weigh In

Several research firms have weighed in on RXST. Jefferies Financial Group assumed coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Wells Fargo & Company restated an “equal weight” rating and set a $42.00 target price (down from $56.00) on shares of RxSight in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a research report on Friday, September 13th. Finally, UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, RxSight presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.13.

RxSight 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.