RxSight (NASDAQ:RXST) Shares Gap Down – Time to Sell?

RxSight, Inc. (NASDAQ:RXST)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $39.17, but opened at $37.51. RxSight shares last traded at $37.76, with a volume of 63,325 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RXST shares. Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. UBS Group assumed coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $42.00 price target (down previously from $56.00) on shares of RxSight in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of RxSight in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, RxSight currently has a consensus rating of “Moderate Buy” and an average price target of $62.13.

RxSight Stock Performance

The stock’s 50 day simple moving average is $47.21 and its 200 day simple moving average is $51.02.

Insider Activity

In related news, Director Shweta Maniar sold 3,782 shares of the business’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 transaction 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. The trade was a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $52.67, for a total transaction of $163,277.00. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,225,096.82. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,807 shares of company stock valued at $3,202,275 over the last quarter. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its position in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares in the last quarter. Principal Financial Group Inc. lifted its position in RxSight by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after buying an additional 240 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in RxSight by 3.2% in the second quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock worth $473,000 after buying an additional 242 shares in the last quarter. Quarry LP grew its position in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Finally, RiverPark Advisors LLC raised its stake in shares of RxSight by 9.6% during the second quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock worth $203,000 after acquiring an additional 297 shares in the last quarter. 78.78% of the stock is 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.