RxSight, Inc. (NASDAQ:RXST) Receives $59.00 Consensus PT from Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $59.00.

RXST has been the topic of a number of recent research reports. Stifel Nicolaus lowered shares of RxSight from a “buy” rating to a “hold” rating and reduced their target price for the company from $65.00 to $40.00 in a report on Friday, December 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $42.00 price objective (down previously from $56.00) on shares of RxSight in a research note on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. UBS Group started coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th.

Insider Transactions at RxSight

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in shares of 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 period. Quarry LP lifted its holdings in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in RxSight in the 3rd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in shares of RxSight during the second quarter valued at about $41,000. Finally, Amalgamated Bank increased its position in shares of RxSight by 21.3% during the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Down 0.3 %

NASDAQ RXST opened at $34.47 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -41.53 and a beta of 1.11. RxSight has a fifty-two week low of $33.03 and a fifty-two week high of $66.54. The business has a fifty day moving average of $45.44 and a 200-day moving average of $49.81.

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.