Trade Alert: The Independent Chairman of the Board Of RxSight, Inc. (NASDAQ:RXST), Jesse Corley, Has Just Spent US$102k Buying 1.9% More Shares

By
Simply Wall St
Published
November 24, 2021
NasdaqGM:RXST
Source: Shutterstock

Potential RxSight, Inc. (NASDAQ:RXST) shareholders may wish to note that the Independent Chairman of the Board, Jesse Corley, recently bought US$102k worth of stock, paying US$12.49 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 1.9%.

View our latest analysis for RxSight

The Last 12 Months Of Insider Transactions At RxSight

Over the last year, we can see that the biggest insider purchase was by President Ronald Kurtz for US$2.0m worth of shares, at about US$16.00 per share. That means that an insider was happy to buy shares at above the current price of US$13.49. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

RxSight insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

insider-trading-volume
NasdaqGM:RXST Insider Trading Volume November 24th 2021

RxSight is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Does RxSight Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that RxSight insiders own 15% of the company, worth about US$56m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At RxSight Tell Us?

The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. Given that insiders also own a fair bit of RxSight we think they are probably pretty confident of a bright future. Of course, the future is what matters most. So if you are interested in RxSight, you should check out this free report on analyst forecasts for the company.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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