RxSight, Inc. (NASDAQ:RXST) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $58.13.

RXST has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating for the company in a report on Monday. Jefferies Financial Group started coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. UBS Group began coverage on RxSight in a research report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of RxSight in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday.

Insider Buying and Selling

In related news, Director Shweta Maniar sold 3,782 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.91, for a total value of $161,180.55. Following the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,192,989.86. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,902 shares of company stock worth $1,805,478. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently bought and sold shares of RXST. Nisa Investment Advisors LLC lifted 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 purchasing an additional 521 shares in the last quarter. Quarry LP lifted its stake in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in RxSight in the third quarter valued at about $34,000. Quest Partners LLC acquired a new stake in RxSight during the 2nd quarter valued at approximately $41,000. Finally, Amalgamated Bank increased its holdings in RxSight by 21.3% during the 2nd quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Up 4.1 %

Shares of RxSight stock opened at $31.32 on Thursday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -37.73 and a beta of 1.20. RxSight has a 52-week low of $26.29 and a 52-week high of $66.54. The company’s 50-day simple moving average is $40.18 and its 200-day simple moving average is $47.17.

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.