RxSight (NASDAQ:RXST) Reaches New 12-Month Low – Should You Sell?

RxSight, Inc. (NASDAQ:RXST)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $33.00 and last traded at $33.26, with a volume of 80145 shares. The stock had previously closed at $34.50.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of RxSight in a report on Friday, September 13th. UBS Group initiated coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $42.00 price objective (down from $56.00) on shares of RxSight in a research report on Wednesday, December 11th. Jefferies Financial Group initiated coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Stifel Nicolaus cut shares of RxSight from a “buy” rating to a “hold” rating and reduced their target price for the company from $65.00 to $40.00 in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, RxSight presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

RxSight Price Performance

The company has a market capitalization of $1.35 billion, a PE ratio of -40.39 and a beta of 1.20. The business’s 50 day simple moving average is $41.38 and its 200 day simple moving average is $47.86.

Insider Buying and Selling

In other news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the completion of the transaction, the director now owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jesse Anderson Corley bought 11,111 shares of the business’s stock in a transaction that occurred on 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 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 disclosure for this purchase can be found here. Over the last three months, insiders sold 44,102 shares of company stock worth $2,115,075. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

A number of large investors have recently modified their holdings of RXST. Nisa Investment Advisors LLC grew 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. Quarry LP increased its position in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RxSight during the third quarter worth $34,000. Quest Partners LLC purchased a new position in RxSight in the second quarter valued at $41,000. Finally, KBC Group NV raised 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. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Company 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.