RxSight (NASDAQ:RXST) Research Coverage Started at UBS Group

UBS Group started coverage on shares of RxSight (NASDAQ:RXST) in a research note published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $52.00 price target on the stock.

RXST has been the subject of a number of other reports. Jefferies Financial Group assumed coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $63.63.

RxSight Stock Performance

NASDAQ:RXST opened at $43.15 on Friday. The company has a fifty day moving average of $48.01 and a two-hundred day moving average of $51.53. The stock has a market capitalization of $1.74 billion, a PE ratio of -51.99 and a beta of 1.11. RxSight has a fifty-two week low of $33.09 and a fifty-two week high of $66.54.

Insider Activity

In related news, Director Shweta Maniar sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total transaction of $173,518.16. Following the completion of the sale, the director now directly owns 10,902 shares in the company, valued at approximately $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,100 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,247,064.74. The trade was a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,807 shares of company stock worth $3,202,275 over the last three months. Insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. increased its position in RxSight by 6.0% during the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock worth $193,609,000 after purchasing an additional 222,000 shares during the last quarter. State Street Corp increased its position in RxSight by 8.3% during the third quarter. State Street Corp now owns 817,671 shares of the company’s stock worth $40,417,000 after purchasing an additional 62,349 shares during the last quarter. Geode Capital Management LLC increased its position in RxSight by 17.7% during the third quarter. Geode Capital Management LLC now owns 817,117 shares of the company’s stock worth $40,398,000 after purchasing an additional 122,775 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in RxSight by 74.9% during the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock worth $42,490,000 after buying an additional 302,367 shares during the period. Finally, Brown Capital Management LLC purchased a new position in RxSight during the third quarter worth about $26,813,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.