Wells Fargo & Company Lowers RxSight (NASDAQ:RXST) Price Target to $40.00

RxSight (NASDAQ:RXST) had its price objective decreased by stock analysts at Wells Fargo & Company from $42.00 to $40.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 32.98% from the company’s previous close.

Several other brokerages also recently weighed in on RXST. UBS Group began coverage on shares of RxSight in a report on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of RxSight in a research note on Monday. Stifel Nicolaus decreased their price target on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group initiated coverage on RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RxSight presently has an average rating of “Moderate Buy” and an average target price of $58.13.

RxSight Trading Down 2.1 %

NASDAQ:RXST opened at $30.08 on Monday. The stock’s 50 day simple moving average is $40.18 and its 200-day simple moving average is $47.17. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The firm has a market cap of $1.21 billion, a P/E ratio of -36.24 and a beta of 1.20.

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley bought 11,111 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ilya Goldshleger sold 3,105 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $50.09, for a total transaction of $155,529.45. Following the completion of the sale, the insider now directly owns 42,246 shares in the company, valued at $2,116,102.14. 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 sold 37,902 shares of company stock valued at $1,805,478. 9.36% of the stock is owned by insiders.

Hedge Funds Weigh In On RxSight

Several hedge funds have recently bought and sold shares of RXST. Nisa Investment Advisors LLC lifted its position 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 acquiring an additional 521 shares in the last quarter. Quarry LP raised its stake in RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during 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 2nd quarter worth about $41,000. Finally, KBC Group NV grew its holdings in shares of RxSight by 63.6% during the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock worth $61,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 78.78% of the company’s stock.

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.