RxSight (NASDAQ:RXST) Trading 1.7% Higher – Still a Buy?

RxSight, Inc. (NASDAQ:RXST) traded up 1.7% on Friday . The stock traded as high as $45.81 and last traded at $45.81. 50,411 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 486,430 shares. The stock had previously closed at $45.05.

Analysts Set New Price Targets

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

RxSight Price Performance

The firm’s 50 day moving average price is $49.39 and its two-hundred day moving average price is $52.73. The stock has a market cap of $1.81 billion, a PE ratio of -54.01 and a beta of 1.19.

Insider Activity at RxSight

In related news, Director Jesse Anderson Corley bought 11,111 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the purchase, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $52.67, for a total value of $163,277.00. Following the sale, the insider now owns 42,246 shares in the company, valued at approximately $2,225,096.82. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,720 shares of company stock worth $2,603,950. Corporate insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. boosted its holdings in RxSight by 6.0% in the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after purchasing an additional 222,000 shares during the period. Vanguard Group Inc. boosted its stake in RxSight by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after buying an additional 40,500 shares during the period. State Street Corp grew its position in RxSight by 8.3% during the third quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after buying an additional 62,349 shares in the last quarter. Geode Capital Management LLC increased its stake in RxSight by 17.7% in the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after acquiring an additional 122,775 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of RxSight by 74.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after acquiring an additional 302,367 shares in the last quarter. Hedge funds and other 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.