RxSight (NASDAQ:RXST) Trading Up 1.2% – Time to Buy?

RxSight, Inc. (NASDAQ:RXST)’s share price traded up 1.2% on Thursday . The company traded as high as $45.46 and last traded at $45.34. 43,486 shares were traded during mid-day trading, a decline of 91% from the average session volume of 487,565 shares. The stock had previously closed at $44.81.

Wall Street Analysts Forecast Growth

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

RxSight Trading Down 0.5 %

The business’s 50-day moving average price is $49.39 and its two-hundred day moving average price is $52.80.

Insider Transactions at RxSight

In other RxSight news, Director Jesse Anderson Corley purchased 11,111 shares of the stock in a transaction on 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 purchase, the director now owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $164,889.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at $2,247,064.74. The trade was 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 52,720 shares of company stock valued at $2,603,950 over the last three months. 9.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. RA Capital Management L.P. increased its stake in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after purchasing an additional 222,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 40,500 shares during the last quarter. State Street Corp increased its stake in shares of RxSight by 8.3% during the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after purchasing an additional 62,349 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after buying an additional 122,775 shares during the period. Finally, Driehaus Capital Management LLC boosted its holdings in shares of RxSight by 74.9% during the 2nd 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 during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.