RxSight (NASDAQ:RXST) Sees Strong Trading Volume – Time to Buy?

RxSight, Inc. (NASDAQ:RXST) saw strong trading volume on Monday . 647,332 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 606,784 shares.The stock last traded at $27.15 and had previously closed at $33.43.

Analysts Set New Price Targets

Several equities analysts recently commented on RXST shares. UBS Group started coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research report on Monday. Wells Fargo & Company decreased their price target on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. Jefferies Financial Group started coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, RxSight presently has an average rating of “Moderate Buy” and an average price target of $58.13.

RxSight Trading Down 2.1 %

The firm has a fifty day moving average of $40.18 and a two-hundred day moving average of $47.17. The company has a market capitalization of $1.21 billion, a PE ratio of -36.24 and a beta of 1.20.

Insider Activity

In other RxSight news, insider Ilya Goldshleger sold 4,875 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $46.00, for a total value of $224,250.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $1,943,316. This trade represents a 10.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley bought 11,111 shares of RxSight stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the purchase, the director now directly owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 37,902 shares of company stock valued at $1,805,478. 9.36% of the stock is currently owned by company insiders.

Institutional Trading of RxSight

Several large investors have recently added to or reduced their stakes in RXST. Nisa Investment Advisors LLC lifted its holdings in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP boosted its position in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of RxSight in the 3rd quarter worth approximately $34,000. Quest Partners LLC bought a new position in RxSight during the 2nd quarter valued at approximately $41,000. Finally, KBC Group NV raised its stake in RxSight by 63.6% during the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after buying an additional 479 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.