RxSight (NASDAQ:RXST) Shares Down 3.9% – Should You Sell?

RxSight, Inc. (NASDAQ:RXST)’s stock price traded down 3.9% on Thursday . The company traded as low as $30.10 and last traded at $30.10. 25,378 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 749,574 shares. The stock had previously closed at $31.32.

Wall Street Analyst Weigh In

RXST has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on RxSight from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group began coverage on shares of RxSight in a research report on Tuesday, October 29th. They set a “buy” rating and a $72.00 target price for the company. UBS Group started 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. Stifel Nicolaus decreased their target price on RxSight from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price objective on shares of RxSight in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, RxSight presently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

RxSight Stock Down 2.5 %

The company has a market cap of $1.22 billion, a P/E ratio of -36.61 and a beta of 1.20. The firm has a fifty day moving average price of $38.97 and a 200 day moving average price of $46.77.

Insiders Place Their Bets

In related news, Director Shweta Maniar sold 3,782 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 10,902 shares in the company, valued at approximately $500,183.76. The trade was a 25.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ilya Goldshleger sold 1,330 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $46.13, for a total transaction of $61,352.90. Following the completion of the sale, the insider now owns 42,246 shares in the company, valued at approximately $1,948,807.98. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,797 shares of company stock valued at $1,649,949. 9.36% of the stock is currently owned by insiders.

Institutional Trading of RxSight

A number of large investors have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares in the last quarter. Principal Financial Group Inc. increased its holdings in RxSight by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 36,046 shares of the company’s stock worth $1,782,000 after purchasing an additional 240 shares in the last quarter. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of RxSight by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after buying an additional 399 shares during the period. Finally, MCIA Inc grew its holdings in shares of RxSight by 5.7% during the third quarter. MCIA Inc now owns 8,459 shares of the company’s stock worth $385,000 after buying an additional 459 shares in the last quarter. Institutional investors own 78.78% of the company’s stock.

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.