RxSight (NASDAQ:RXST) Trading Down 0.8% – Time to Sell?

RxSight, Inc. (NASDAQ:RXST) shares dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $45.88 and last traded at $45.99. Approximately 37,939 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 487,885 shares. The stock had previously closed at $46.38.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RXST. Oppenheimer reduced their price objective on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of RxSight in a research report on Friday, September 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, RxSight has an average rating of “Buy” and a consensus price target of $61.63.

RxSight Stock Down 0.9 %

The firm’s 50 day simple moving average is $49.20 and its 200 day simple moving average is $52.57. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -55.41 and a beta of 1.19.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 4,875 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $46.00, for a total value of $224,250.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $1,943,316. This trade represents a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jesse Anderson Corley bought 11,111 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the transaction, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This trade represents a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 52,720 shares of company stock worth $2,603,950 in the last three months. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the period. Principal Financial Group Inc. increased its position in shares of RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock valued at $1,782,000 after purchasing an additional 240 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of RxSight by 3.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,861 shares of the company’s stock valued at $473,000 after purchasing an additional 242 shares during the period. Quarry LP increased 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 purchasing an additional 288 shares during the period. Finally, RiverPark Advisors LLC increased its position in shares of RxSight by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 3,379 shares of the company’s stock valued at $203,000 after purchasing an additional 297 shares during the period. 78.78% of the stock is currently 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.