RxSight (NASDAQ:RXST) Trading Down 0.8% on Insider Selling

RxSight, Inc. (NASDAQ:RXST)’s share price traded down 0.8% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $45.88 and last traded at $45.99. 37,939 shares changed hands during trading, a decline of 92% from the average session volume of 487,885 shares. The stock had previously closed at $46.38.

Specifically, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $45.00, for a total transaction of $139,500.00. Following the sale, the insider now owns 42,246 shares of the company’s stock, valued at approximately $1,901,070. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $142,228.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $1,938,246.48. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Shweta Maniar sold 3,782 shares of RxSight stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total transaction of $173,518.16. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

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

RxSight Stock Performance

The company has a 50-day simple moving average of $49.00 and a 200-day simple moving average of $52.48. The stock has a market cap of $1.87 billion, a P/E ratio of -55.78 and a beta of 1.19.

Hedge Funds Weigh In On RxSight

Several institutional investors have recently bought and sold shares of RXST. Brown Capital Management LLC bought a new position in RxSight in the 3rd quarter valued at $26,813,000. Point72 Asset Management L.P. raised its position in shares of RxSight by 610.2% during the third quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after acquiring an additional 384,041 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of RxSight during the second quarter worth $19,512,000. Driehaus Capital Management LLC raised its position in shares of 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 acquiring an additional 302,367 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of RxSight by 438.8% during the second quarter. Baillie Gifford & Co. now owns 358,215 shares of the company’s stock worth $21,554,000 after acquiring an additional 291,733 shares during 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.