RxSight (NASDAQ:RXST) Stock Price Up 3.4% on Insider Buying Activity

RxSight, Inc. (NASDAQ:RXST) shares were up 3.4% on Friday following insider buying activity. The stock traded as high as $46.38 and last traded at $45.65. Approximately 69,868 shares traded hands during trading, a decline of 86% from the average daily volume of 487,558 shares. The stock had previously closed at $44.16.

Specifically, Director Jesse Anderson Corley acquired 11,111 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the purchase, the director now directly owns 468,571 shares of the company’s stock, valued at $21,259,066.27. This trade represents a 2.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

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

RxSight Stock Performance

The stock has a 50 day moving average of $50.48 and a 200-day moving average of $53.33. The company has a market cap of $1.86 billion, a PE ratio of -53.20 and a beta of 1.19.

Institutional Investors Weigh In On RxSight

Large investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of RxSight by 727.5% in the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock valued at $25,000 after acquiring an additional 371 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in RxSight during the 3rd quarter worth about $34,000. Quest Partners LLC purchased a new position in shares of RxSight during the 2nd quarter valued at about $41,000. Finally, Amalgamated Bank lifted its holdings in shares of RxSight by 21.3% in the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock valued at $71,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors 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.