RxSight (NASDAQ:RXST) Downgraded by Stifel Nicolaus to “Hold”

Stifel Nicolaus lowered shares of RxSight (NASDAQ:RXST) from a buy rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage currently has $40.00 price objective on the stock, down from their previous price objective of $65.00.

Several other equities research analysts have also recently commented on RXST. Jefferies Financial Group began coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price target for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $42.00 target price (down from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. UBS Group started coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RxSight currently has an average rating of “Moderate Buy” and an average target price of $59.00.

RxSight Trading Down 11.9 %

NASDAQ:RXST opened at $33.66 on Friday. The company has a market cap of $1.36 billion, a P/E ratio of -40.55 and a beta of 1.11. RxSight has a twelve month low of $33.03 and a twelve month high of $66.54. The company’s 50-day moving average price is $45.75 and its 200-day moving average price is $50.04.

Insider Transactions at RxSight

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average cost of $45.37 per share, with a total value of $504,106.07. Following the purchase, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $46.08, for a total transaction of $143,078.40. Following the completion of the transaction, the insider now directly owns 42,246 shares of the company’s stock, valued at $1,946,695.68. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,607 shares of company stock worth $2,874,109 over the last ninety days. Company insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RXST. CWM LLC increased its holdings in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the period. Nisa Investment Advisors LLC grew its position in shares of RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Quarry LP increased its stake in shares of RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of RxSight during the third quarter worth approximately $34,000. Finally, Quest Partners LLC acquired a new stake in RxSight in the second quarter valued at approximately $41,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

About RxSight

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.