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

RxSight (NASDAQ:RXST) had its price objective reduced by Wells Fargo & Company from $42.00 to $40.00 in a research report released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of RxSight in a research note on Monday. Stifel Nicolaus dropped their price target on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday. UBS Group began coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of RxSight in a report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, RxSight has a consensus rating of “Moderate Buy” and a consensus price target of $58.13.

RxSight Stock Performance

RXST opened at $30.72 on Monday. The firm’s fifty day moving average is $40.61 and its two-hundred day moving average is $47.38. The firm has a market cap of $1.24 billion, a PE ratio of -37.01 and a beta of 1.20. RxSight has a twelve month low of $26.29 and a twelve month high of $66.54.

Insider Activity

In related news, Director Jesse Anderson Corley bought 11,111 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the acquisition, the director now owns 468,571 shares of the company’s stock, valued at approximately $21,259,066.27. The trade was a 2.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shweta Maniar sold 3,782 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $45.88, for a total value of $173,518.16. Following the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at $500,183.76. This trade represents a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,002 shares of company stock worth $1,959,796 over the last ninety days. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Quarry LP lifted 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 bought a new position in RxSight during the third quarter worth about $34,000. Quest Partners LLC acquired a new position in RxSight during the second quarter worth approximately $41,000. Finally, KBC Group NV raised its stake in RxSight by 63.6% in the third quarter. KBC Group NV now owns 1,232 shares of the company’s stock valued at $61,000 after buying an additional 479 shares during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

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.