RxSight, Inc. (NASDAQ:RXST) Short Interest Update

RxSight, Inc. (NASDAQ:RXST) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, a growth of 25.1% from the October 15th total of 2,190,000 shares. Currently, 7.2% of the shares of the company are short sold. Based on an average daily trading volume, of 464,800 shares, the days-to-cover ratio is presently 5.9 days.

Insider Activity at RxSight

In other news, Director Jesse Anderson Corley bought 11,111 shares of RxSight stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $45.37 per share, with a total value of $504,106.07. Following the acquisition, the director now owns 468,571 shares of the company’s stock, valued at $21,259,066.27. The trade was a 2.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total transaction of $164,889.00. Following the transaction, the insider now directly owns 42,246 shares in the company, valued at $2,247,064.74. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,745 shares of company stock worth $2,240,200. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

A number of large investors have recently made changes to their positions in the business. M&G Plc purchased a new position in shares of RxSight in the 1st quarter worth approximately $7,354,000. Vanguard Group Inc. increased its position in RxSight by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,524,510 shares of the company’s stock valued at $78,634,000 after acquiring an additional 40,500 shares during the last quarter. Algert Global LLC purchased a new stake in shares of RxSight in the second quarter valued at $2,488,000. Bank of New York Mellon Corp raised its stake in shares of RxSight by 17.0% in the second quarter. Bank of New York Mellon Corp now owns 119,493 shares of the company’s stock valued at $7,190,000 after acquiring an additional 17,368 shares during the period. Finally, Caxton Associates LP bought a new stake in shares of RxSight in the 1st quarter worth about $1,208,000. 78.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

RxSight Price Performance

RXST stock opened at $44.16 on Friday. The firm has a fifty day moving average price of $50.48 and a 200 day moving average price of $53.33. RxSight has a fifty-two week low of $26.85 and a fifty-two week high of $66.54.

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.