RxSight (NASDAQ:RXST) Given New $40.00 Price Target at Wells Fargo & Company

RxSight (NASDAQ:RXST) had its price objective decreased by research analysts at Wells Fargo & Company from $42.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 33.07% from the company’s previous close.

Several other research firms have also recently issued reports on RXST. Needham & Company LLC reiterated a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Monday. Jefferies Financial Group assumed coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RxSight has an average rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Performance

Shares of RXST traded down $3.37 during trading hours on Monday, hitting $30.06. The company had a trading volume of 1,791,749 shares, compared to its average volume of 760,724. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -36.22 and a beta of 1.20. The firm has a fifty day moving average price of $41.02 and a 200-day moving average price of $47.58. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54.

Insider Buying and Selling at RxSight

In related news, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares in the company, valued at approximately $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The sale 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 the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $49.78, for a total transaction of $154,318.00. Following the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,103,005.88. 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 41,002 shares of company stock valued at $1,959,796 over the last 90 days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently made changes to their positions in the company. Paragon Advisors LLC increased its stake in RxSight by 20.5% in the 4th quarter. Paragon Advisors LLC now owns 37,822 shares of the company’s stock worth $1,300,000 after acquiring an additional 6,423 shares during the last quarter. JPMorgan Chase & Co. increased its position in RxSight by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company’s stock worth $9,516,000 after purchasing an additional 7,494 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in RxSight in the third quarter worth $215,000. Geode Capital Management LLC raised its position 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 valued at $40,398,000 after buying an additional 122,775 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of RxSight by 389.8% in the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after acquiring an additional 46,783 shares during the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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.