Analysts Set RxSight, Inc. (NASDAQ:RXST) Target Price at $58.13

Shares of RxSight, Inc. (NASDAQ:RXST) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $58.13.

A number of analysts have recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company reduced their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday, October 29th. They issued a “buy” rating and a $72.00 price objective for the company. UBS Group assumed coverage on RxSight in a report on Friday, December 6th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of RxSight in a report on Monday, January 13th.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley purchased 1,443 shares of the stock in a transaction dated Wednesday, January 15th. The shares were purchased at an average cost of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares of the company’s stock, valued at approximately $44,992.74. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $45.88, for a total value of $173,518.16. Following the sale, the director now owns 10,902 shares of the company’s stock, valued at $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,797 shares of company stock valued at $1,649,949. 9.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On RxSight

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brown Capital Management LLC acquired a new position in RxSight during the third quarter worth about $26,813,000. Point72 Asset Management L.P. boosted its holdings in shares of RxSight by 610.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 446,976 shares of the company’s stock worth $22,094,000 after purchasing an additional 384,041 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of RxSight during the 2nd quarter worth approximately $19,512,000. Driehaus Capital Management LLC grew its position in shares of RxSight by 74.9% in the second quarter. Driehaus Capital Management LLC now owns 706,162 shares of the company’s stock valued at $42,490,000 after purchasing an additional 302,367 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of RxSight in the third quarter valued at approximately $11,350,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Trading Down 2.5 %

RXST opened at $30.39 on Thursday. RxSight has a 12-month low of $26.29 and a 12-month high of $66.54. The firm has a 50 day moving average of $38.97 and a two-hundred day moving average of $46.70. The firm has a market capitalization of $1.22 billion, a PE ratio of -36.61 and a beta of 1.20.

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.