RxSight (NASDAQ:RXST) Sees Strong Trading Volume – Here’s What Happened

Shares of RxSight, Inc. (NASDAQ:RXST) saw unusually-high trading volume on Monday . Approximately 647,332 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 606,784 shares.The stock last traded at $27.15 and had previously closed at $33.43.

Analyst Ratings Changes

Several analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a report on Monday. Wells Fargo & Company lowered their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Trading Down 2.1 %

The firm has a market capitalization of $1.21 billion, a P/E ratio of -36.24 and a beta of 1.20. The stock has a 50 day simple moving average of $40.18 and a 200-day simple moving average of $47.17.

Insiders Place Their Bets

In other news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now owns 10,902 shares of the company’s stock, valued at $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $46.08, for a total value of $143,078.40. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $1,946,695.68. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,902 shares of company stock worth $1,805,478. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paragon Advisors LLC increased its stake in shares of RxSight by 20.5% in the fourth quarter. Paragon Advisors LLC now owns 37,822 shares of the company’s stock worth $1,300,000 after purchasing an additional 6,423 shares in the last quarter. JPMorgan Chase & Co. increased its stake in RxSight by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company’s stock worth $9,516,000 after buying an additional 7,494 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in RxSight during the third quarter valued at about $215,000. Geode Capital Management LLC lifted its position in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after acquiring an additional 122,775 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of RxSight by 389.8% in the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after acquiring an additional 46,783 shares during the period. 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.