RxSight (NASDAQ:RXST) Trading Down 1.8% After Insider Selling

RxSight, Inc. (NASDAQ:RXST)’s share price fell 1.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $56.04 and last traded at $56.04. 17,822 shares were traded during trading, a decline of 96% from the average session volume of 438,282 shares. The stock had previously closed at $57.04.

Specifically, CFO Shelley B. Thunen sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total value of $526,900.00. Following the sale, the chief financial officer now directly owns 13,938 shares of the company’s stock, valued at $734,393.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RxSight news, CFO Shelley B. Thunen sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $52.69, for a total transaction of $526,900.00. Following the completion of the sale, the chief financial officer now owns 13,938 shares in the company, valued at $734,393.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald M. Md Kurtz sold 40,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.15, for a total transaction of $2,406,000.00. Following the sale, the chief executive officer now owns 764,610 shares of the company’s stock, valued at approximately $45,991,291.50. The disclosure for this sale can be found here. Insiders have sold 75,625 shares of company stock valued at $4,425,250 over the last ninety days. Corporate insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RXST shares. Oppenheimer upped their price target on shares of RxSight from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. BTIG Research upped their price target on shares of RxSight from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Needham & Company LLC upped their price target on shares of RxSight from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus upped their price target on shares of RxSight from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company upped their price target on shares of RxSight from $61.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, RxSight currently has a consensus rating of “Buy” and a consensus target price of $60.63.

RxSight Trading Down 1.8 %

The stock’s 50-day moving average is $58.55 and its 200-day moving average is $52.22. The stock has a market cap of $2.07 billion, a P/E ratio of -45.27 and a beta of 1.20.

RxSight (NASDAQ:RXST) last announced its earnings results on Monday, May 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.08). RxSight had a negative net margin of 44.01% and a negative return on equity of 27.68%. The company had revenue of $29.51 million during the quarter, compared to the consensus estimate of $27.56 million. During the same quarter in the prior year, the company earned ($0.42) EPS. The business’s quarterly revenue was up 68.7% on a year-over-year basis. On average, equities analysts forecast that RxSight, Inc. will post -0.77 EPS for the current year.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently bought and sold shares of the business. RiverPark Advisors LLC lifted its holdings in RxSight by 70.0% in the 4th quarter. RiverPark Advisors LLC now owns 668 shares of the company’s stock valued at $27,000 after acquiring an additional 275 shares during the last quarter. Larson Financial Group LLC purchased a new stake in RxSight during the first quarter valued at about $51,000. Amalgamated Bank lifted its stake in RxSight by 7.7% during the fourth quarter. Amalgamated Bank now owns 4,148 shares of the company’s stock valued at $167,000 after buying an additional 298 shares in the last quarter. Clear Rock Advisors LLC purchased a new stake in RxSight during the fourth quarter valued at about $172,000. Finally, Clarus Group Inc. purchased a new stake in RxSight during the fourth quarter valued at about $202,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.