RxSight (NASDAQ:RXST) Coverage Initiated at UBS Group

UBS Group started coverage on shares of RxSight (NASDAQ:RXST) in a research report report published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $52.00 price target on the stock.

Several other research analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, RxSight presently has a consensus rating of “Buy” and an average price target of $63.63.

RxSight Stock Performance

NASDAQ RXST opened at $43.15 on Friday. The firm has a 50 day simple moving average of $48.01 and a 200-day simple moving average of $51.53. RxSight has a one year low of $33.09 and a one year high of $66.54. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -51.99 and a beta of 1.11.

Insiders Place Their Bets

In other RxSight news, insider Ilya Goldshleger sold 3,105 shares of the business’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 owns 42,246 shares in the company, valued at $1,946,695.68. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jesse Anderson Corley purchased 11,111 shares of the stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now directly owns 468,571 shares in the company, valued at $21,259,066.27. This represents a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 65,807 shares of company stock worth $3,202,275 in the last 90 days. Corporate insiders own 9.36% of the company’s stock.

Institutional Trading of RxSight

Several institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. lifted its position 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 worth $193,609,000 after buying an additional 222,000 shares during the last quarter. State Street Corp lifted its position in shares of RxSight by 8.3% during the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after buying an additional 62,349 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of RxSight by 17.7% during the 3rd quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after buying an additional 122,775 shares during the last quarter. Driehaus Capital Management LLC lifted its position in shares of RxSight by 74.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after buying an additional 302,367 shares during the last quarter. Finally, Brown Capital Management LLC purchased a new stake in shares of RxSight during the 3rd quarter worth approximately $26,813,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.