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

Shares of RxSight, Inc. (NASDAQ:RXST) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.13.

RXST has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $66.00 target price on shares of RxSight in a research note on Monday, January 13th. UBS Group initiated coverage on RxSight in a research note on Friday, December 6th. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company cut their target price on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Jefferies Financial Group began 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, Stifel Nicolaus cut their price target on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th.

RxSight Stock Down 2.5 %

Shares of NASDAQ:RXST opened at $30.39 on Thursday. The stock has a market cap of $1.22 billion, a PE ratio of -36.61 and a beta of 1.20. The company’s fifty day moving average is $38.65 and its 200 day moving average is $46.44. RxSight has a 52 week low of $26.29 and a 52 week high of $66.54.

Insider Activity at RxSight

In related news, insider Ilya Goldshleger sold 3,100 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $49.79, for a total value of $154,349.00. Following the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at $2,103,428.34. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jesse Anderson Corley acquired 11,111 shares of the stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $45.37 per share, with a total value of $504,106.07. Following the transaction, the director now directly owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. This trade represents a 2.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 31,697 shares of company stock worth $1,495,941 over the last 90 days. 9.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On RxSight

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. grew its stake in shares of RxSight by 6.0% in 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 grew its stake in shares of RxSight by 8.3% in the third quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after acquiring an additional 62,349 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RxSight by 17.7% in the third 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. Driehaus Capital Management LLC increased its holdings in shares of RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after acquiring an additional 302,367 shares in the last quarter. Finally, Brown Capital Management LLC purchased a new position in shares of RxSight in the 3rd quarter worth about $26,813,000. 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.