RxSight (NASDAQ:RXST) Trading Up 3.4% Following Insider Buying Activity

RxSight, Inc. (NASDAQ:RXST) shares rose 3.4% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $46.38 and last traded at $45.65. Approximately 69,868 shares changed hands during trading, a decline of 86% from the average daily volume of 487,558 shares. The stock had previously closed at $44.16.

Specifically, Director Jesse Anderson Corley purchased 11,111 shares of the stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $504,106.07. Following the completion of the transaction, the director now directly owns 468,571 shares in the company, valued at approximately $21,259,066.27. This represents a 2.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Analysts Set New Price Targets

RXST has been the topic of a number of recent research reports. Oppenheimer cut their price target on shares of RxSight from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their price target on shares of RxSight from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 price objective on the stock. Wells Fargo & Company lowered their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Friday, September 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $61.63.

RxSight Trading Up 2.0 %

The company has a 50 day simple moving average of $50.32 and a 200 day simple moving average of $53.27. The stock has a market capitalization of $1.82 billion, a PE ratio of -54.28 and a beta of 1.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after purchasing an additional 371 shares during the period. Nisa Investment Advisors LLC grew its position in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares during the period. Quarry LP increased its holdings in RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RxSight during the 3rd quarter valued at approximately $34,000. Finally, Quest Partners LLC purchased a new stake in shares of RxSight during the 2nd quarter worth approximately $41,000. 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.