RxSight (NASDAQ:RXST) Stock Price Down 4.7% – Should You Sell?

RxSight, Inc. (NASDAQ:RXST) shares dropped 4.7% during trading on Friday . The stock traded as low as $30.54 and last traded at $30.37. Approximately 84,028 shares were traded during trading, a decline of 86% from the average daily volume of 601,876 shares. The stock had previously closed at $31.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, January 13th. UBS Group initiated coverage on RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of RxSight in a report on Monday, January 13th. Wells Fargo & Company cut their target price on shares of RxSight from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of RxSight in a research note on Tuesday, October 29th. They set a “buy” rating and a $72.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.13.

RxSight Stock Performance

The firm’s 50 day simple moving average is $33.91 and its 200 day simple moving average is $44.26.

Insider Buying and Selling

In other RxSight news, Director Jesse Anderson Corley bought 1,443 shares of RxSight stock in a transaction on Wednesday, January 15th. The shares were acquired at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the completion of the purchase, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $227,913.21. This represents a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,706 shares of company stock valued at $846,456. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On RxSight

Large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. raised its stake in shares of RxSight by 6.0% during the third quarter. RA Capital Management L.P. now owns 3,916,825 shares of the company’s stock valued at $193,609,000 after acquiring an additional 222,000 shares in the last quarter. Vanguard Group Inc. raised its stake in RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after buying an additional 96,464 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in RxSight by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock valued at $53,345,000 after acquiring an additional 381,389 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RxSight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock valued at $28,568,000 after acquiring an additional 13,641 shares during the period. Finally, State Street Corp increased its holdings in shares of RxSight by 8.3% in the 3rd quarter. State Street Corp now owns 817,671 shares of the company’s stock valued at $40,417,000 after acquiring an additional 62,349 shares during the period. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.