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

RxSight, Inc. (NASDAQ:RXSTGet Free Report) shares rose 3.4% during trading on Friday after an insider bought additional shares in the company. 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 purchased 11,111 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $45.37 per share, with a total value of $504,106.07. Following the transaction, the director now owns 468,571 shares in the company, valued at approximately $21,259,066.27. The trade was a 2.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

RXST has been the subject of several recent analyst reports. Oppenheimer decreased their price target on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their target price on RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company decreased their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Friday, September 13th. Finally, Jefferies Financial Group assumed coverage on RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.63.

Read Our Latest Stock Report on RXST

RxSight Stock Up 2.0 %

The company has a market capitalization of $1.82 billion, a P/E ratio of -54.28 and a beta of 1.19. The business has a fifty day moving average price of $50.32 and a 200 day moving average price of $53.28.

Hedge Funds Weigh In On RxSight

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its stake 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 purchasing an additional 371 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of RxSight by 854.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares in the last quarter. Quarry LP boosted its holdings in shares of RxSight by 82.3% during the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RxSight during the 3rd quarter valued at $34,000. Finally, Quest Partners LLC acquired a new stake in shares of RxSight during the 2nd quarter valued at $41,000. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

(Get Free Report)

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.

Further Reading

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