RxSight (NASDAQ:RXST) Trading Down 3.9% – Time to Sell?

Shares of RxSight, Inc. (NASDAQ:RXST) fell 3.9% during mid-day trading on Thursday . The stock traded as low as $30.10 and last traded at $30.10. 25,378 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 749,574 shares. The stock had previously closed at $31.32.

Analyst Upgrades and Downgrades

RXST has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. UBS Group started coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 price target for the company. 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. Wells Fargo & Company cut their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus dropped their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.13.

RxSight Price Performance

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -36.61 and a beta of 1.20. The company’s 50-day simple moving average is $38.97 and its 200-day simple moving average is $46.77.

Insider Buying and Selling at RxSight

In related news, Director Jesse Anderson Corley purchased 11,111 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $45.37 per share, with a total value of $504,106.07. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $51.91, for a total transaction of $161,180.55. Following the sale, the insider now owns 42,246 shares in the company, valued at $2,192,989.86. The trade was a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,797 shares of company stock valued at $1,649,949 in the last ninety days. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RxSight

Large investors have recently modified their holdings of the business. RA Capital Management L.P. grew its holdings in shares of RxSight by 6.0% during the 3rd quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after purchasing an additional 222,000 shares during the last quarter. State Street Corp grew its position in shares of RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after buying an additional 62,349 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of RxSight by 17.7% in the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock valued at $40,398,000 after buying an additional 122,775 shares during the period. Driehaus Capital Management LLC raised its position in shares of RxSight by 74.9% during 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 in the third quarter worth approximately $26,813,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

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.