RxSight (NASDAQ:RXST) Reaches New 1-Year Low – Here’s Why

RxSight, Inc. (NASDAQ:RXSTGet Free Report) reached a new 52-week low on Monday . The company traded as low as $33.03 and last traded at $33.18, with a volume of 89436 shares changing hands. The stock had previously closed at $34.22.

Analyst Upgrades and Downgrades

Several research firms recently commented on RXST. Stifel Nicolaus downgraded RxSight from a “buy” rating to a “hold” rating and cut their target price for the stock from $65.00 to $40.00 in a research report on Friday, December 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $42.00 price objective (down from $56.00) on shares of RxSight in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Jefferies Financial Group initiated coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target for the company. Finally, UBS Group initiated coverage on shares of RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Check Out Our Latest Analysis on RXST

RxSight Price Performance

The firm has a market capitalization of $1.35 billion, a P/E ratio of -40.48 and a beta of 1.11. The company’s 50 day moving average price is $44.19 and its 200 day moving average price is $49.15.

Insiders Place Their Bets

In other news, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.26, for a total transaction of $149,606.00. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at $2,038,791.96. The trade was a 6.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the purchase, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. The trade was a 2.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 53,402 shares of company stock valued at $2,569,101. 9.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in RxSight by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company’s stock valued at $9,516,000 after buying an additional 7,494 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of RxSight in the 3rd quarter valued at approximately $215,000. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 122,775 shares during the last quarter. Barclays PLC boosted its stake in RxSight by 389.8% during the 3rd quarter. Barclays PLC now owns 58,786 shares of the company’s stock worth $2,906,000 after acquiring an additional 46,783 shares during the last quarter. Finally, MML Investors Services LLC acquired a new position in RxSight during the third quarter valued at approximately $452,000. 78.78% of the stock is currently owned by institutional investors.

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.

See Also

Receive News & Ratings for RxSight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RxSight and related companies with MarketBeat.com's FREE daily email newsletter.