RxSight, Inc. (NASDAQ:RXST) Receives $59.00 Average Price Target from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $59.00.

Several equities analysts have recently weighed in on RXST shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $42.00 price objective (down previously from $56.00) on shares of RxSight in a report on Wednesday, December 11th. 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. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. UBS Group initiated coverage on shares of RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Stifel Nicolaus cut RxSight from a “buy” rating to a “hold” rating and lowered their target price for the stock from $65.00 to $40.00 in a report on Friday, December 20th.

Insider Buying and Selling

In related 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 price of $45.37 per share, with a total value of $504,106.07. Following the transaction, the director now directly owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $45.00, for a total value of $139,500.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $1,901,070. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,502 shares of company stock worth $2,721,063. 9.36% of the stock is owned by insiders.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Quarry LP grew its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after purchasing an additional 288 shares during the period. Point72 Hong Kong Ltd bought a new stake in RxSight in the third quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in shares of RxSight in the second quarter valued at approximately $41,000. Finally, Amalgamated Bank boosted its stake in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares during the period. 78.78% of the stock is owned by institutional investors.

RxSight Trading Down 2.4 %

RXST stock opened at $34.22 on Friday. RxSight has a 1-year low of $33.03 and a 1-year high of $66.54. The firm has a market cap of $1.38 billion, a PE ratio of -41.23 and a beta of 1.11. The business’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $49.22.

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.