RxSight, Inc. (NASDAQ:RXST) Short Interest Up 25.1% in October

RxSight, Inc. (NASDAQ:RXST) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, a growth of 25.1% from the October 15th total of 2,190,000 shares. Based on an average daily trading volume, of 464,800 shares, the short-interest ratio is presently 5.9 days. Approximately 7.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

RxSight Stock Performance

Shares of NASDAQ RXST traded up $0.89 during trading hours on Friday, reaching $45.05. 668,980 shares of the stock were exchanged, compared to its average volume of 648,083. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -54.28 and a beta of 1.19. The stock’s fifty day simple moving average is $50.32 and its 200 day simple moving average is $53.28. RxSight has a 52 week low of $27.07 and a 52 week high of $66.54.

Insider Buying and Selling at RxSight

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $52.67, for a total transaction of $163,277.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jesse Anderson Corley acquired 11,111 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now owns 468,571 shares in the company, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 44,745 shares of company stock worth $2,240,200. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC acquired a new stake in shares of RxSight in the third quarter valued at approximately $26,813,000. Point72 Asset Management L.P. grew its holdings in shares of RxSight by 610.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after purchasing an additional 384,041 shares in the last quarter. Marshall Wace LLP acquired a new position in RxSight in the second quarter valued at about $19,512,000. Driehaus Capital Management LLC grew its stake in RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after buying an additional 302,367 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of RxSight by 438.8% in the 2nd quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock valued at $21,554,000 after buying an additional 291,733 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

About RxSight

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.