RxSight (NASDAQ:RXST) Stock Price Down 0.1% – Here’s Why

RxSight, Inc. (NASDAQ:RXST)’s share price was down 0.1% during trading on Monday . The company traded as low as $42.62 and last traded at $43.11. Approximately 278,187 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 486,983 shares. The stock had previously closed at $43.15.

Analysts Set New Price Targets

RXST has been the subject of several research analyst reports. UBS Group assumed coverage on RxSight in a research report on Friday. They set a “buy” rating and a $52.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. Finally, 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 for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $63.63.

RxSight Trading Down 6.8 %

The stock has a market cap of $1.62 billion, a P/E ratio of -45.81 and a beta of 1.11. The company’s fifty day simple moving average is $48.01 and its 200-day simple moving average is $51.53.

Insider Activity at RxSight

In other RxSight news, Director Shweta Maniar sold 3,782 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the sale, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This represents a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ilya Goldshleger sold 3,105 shares of RxSight stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the completion of the transaction, the insider now owns 42,246 shares of the company’s stock, valued at $1,946,695.68. This trade represents a 6.85 % 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. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RA Capital Management L.P. boosted its stake in RxSight by 6.0% in the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after purchasing an additional 222,000 shares in the last quarter. State Street Corp grew its holdings in RxSight by 8.3% during the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after acquiring an additional 62,349 shares during the last quarter. Geode Capital Management LLC increased its position in RxSight by 17.7% in the 3rd 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. Driehaus Capital Management LLC raised its stake in shares of RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after acquiring an additional 302,367 shares during the last quarter. Finally, Brown Capital Management LLC acquired a new position in shares of RxSight during the third quarter worth approximately $26,813,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.