Brown Capital Management LLC Makes New Investment in RxSight, Inc. (NASDAQ:RXST)

Brown Capital Management LLC purchased a new stake in RxSight, Inc. (NASDAQ:RXST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 542,437 shares of the company’s stock, valued at approximately $26,813,000.

A number of other large investors have also made changes to their positions in the company. CWM LLC increased its holdings in shares of RxSight by 727.5% in the second quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after acquiring an additional 371 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Quest Partners LLC bought a new stake in RxSight during the 2nd quarter worth approximately $41,000. Amalgamated Bank raised its holdings in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after buying an additional 207 shares during the period. Finally, KBC Group NV lifted its stake in RxSight by 63.6% in 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 in the last quarter. Institutional investors own 78.78% of the company’s stock.

Insider Activity at RxSight

In related news, Director Jesse Anderson Corley purchased 11,111 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 of the company’s stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $45.00, for a total transaction of $139,500.00. Following the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,901,070. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,720 shares of company stock valued at $2,603,950 over the last quarter. 9.36% of the stock is owned by corporate insiders.

RxSight Stock Performance

RxSight stock opened at $44.81 on Thursday. The stock’s fifty day moving average price is $49.78 and its two-hundred day moving average price is $52.98. RxSight, Inc. has a one year low of $27.51 and a one year high of $66.54.

Analyst Ratings Changes

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

RxSight 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.