RxSight (NASDAQ:RXST) Shares Gap Down – Should You Sell?

RxSight, Inc. (NASDAQ:RXST) gapped down prior to trading on Friday . The stock had previously closed at $50.85, but opened at $47.03. RxSight shares last traded at $43.50, with a volume of 289,632 shares changing hands.

Analysts Set New Price Targets

RXST has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of RxSight in a report on Friday, September 13th. Stifel Nicolaus decreased their target price on shares of RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group initiated coverage on shares of RxSight in a research report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 target price for the company. Wells Fargo & Company reduced their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, BTIG Research boosted their price objective on shares of RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $61.63.

RxSight Stock Performance

The firm has a market cap of $1.78 billion, a P/E ratio of -47.07 and a beta of 1.19. The company’s 50 day moving average is $51.20 and its 200 day moving average is $53.54.

Insider Activity

In related news, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the sale, the insider now owns 42,246 shares in the company, valued at $2,247,064.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 43,415 shares of company stock worth $2,178,847. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. acquired a new position in RxSight in the 1st quarter valued at approximately $364,000. Swiss National Bank increased its holdings in RxSight by 16.2% in the first quarter. Swiss National Bank now owns 53,100 shares of the company’s stock valued at $2,739,000 after purchasing an additional 7,400 shares during the period. Inspire Investing LLC acquired a new stake in RxSight in the first quarter valued at $917,000. ProShare Advisors LLC bought a new position in RxSight during the 1st quarter worth $263,000. Finally, Doheny Asset Management CA acquired a new position in RxSight during the 1st quarter worth about $493,000. 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.