RxSight (NASDAQ:RXST) Stock Price Down 4.7% – Here’s What Happened

Shares of RxSight, Inc. (NASDAQ:RXST) dropped 4.7% on Friday . The stock traded as low as $30.54 and last traded at $30.37. Approximately 84,028 shares traded hands during trading, a decline of 86% from the average daily volume of 601,876 shares. The stock had previously closed at $31.87.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their price target on RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. UBS Group started coverage on shares of RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Down 6.5 %

The stock’s 50 day moving average price is $33.91 and its two-hundred day moving average price is $44.26.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $45.00, for a total value of $139,500.00. Following the sale, the insider now owns 42,246 shares in the company, valued at $1,901,070. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jesse Anderson Corley purchased 1,443 shares of RxSight stock in a transaction that occurred on Wednesday, January 15th. The shares were bought at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the transaction, the director now owns 1,443 shares of the company’s stock, valued at $44,992.74. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 19,706 shares of company stock valued at $846,456. Company insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

A number of hedge funds have recently added to or reduced their stakes in RXST. Principal Financial Group Inc. increased its holdings in RxSight by 0.7% in the third quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after buying an additional 240 shares in the last quarter. Quarry LP grew its position in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Mountain Capital Investment Advisors Inc. increased its stake in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock valued at $302,000 after purchasing an additional 320 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in RxSight by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares during the period. Finally, Wells Fargo & Company MN boosted its position in RxSight by 1.7% during the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock worth $914,000 after purchasing an additional 445 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.