RxSight (NASDAQ:RXST) Sets New 52-Week Low – Here’s What Happened

RxSight, Inc. (NASDAQ:RXST) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $33.00 and last traded at $33.26, with a volume of 80145 shares. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RXST. Stifel Nicolaus downgraded RxSight from a “buy” rating to a “hold” rating and lowered their target price for the company from $65.00 to $40.00 in a research note on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. UBS Group began coverage on shares of RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $42.00 price target (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group began 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

RxSight Stock Performance

The stock’s 50-day moving average price is $41.38 and its 200-day moving average price is $47.86. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -40.39 and a beta of 1.20.

Insider Buying and Selling at RxSight

In other RxSight news, 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 value of $173,518.16. Following the sale, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,102 shares of company stock valued at $2,115,075. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after acquiring an additional 207 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of RxSight by 0.7% during the 3rd 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 during the period. Quarry LP raised its holdings in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the period. Arizona State Retirement System lifted its position in RxSight by 5.0% during the second quarter. Arizona State Retirement System now owns 7,765 shares of the company’s stock valued at $467,000 after buying an additional 373 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake 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 buying an additional 399 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.