Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 2.9% After Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares fell 2.9% during trading on Monday following insider selling activity. The company traded as low as $8.03 and last traded at $8.11. 1,120,668 shares traded hands during trading, a decline of 81% from the average session volume of 6,053,652 shares. The stock had previously closed at $8.35.

Specifically, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $9.17, for a total transaction of $104,968.99. Following the completion of the sale, the director now owns 7,186,913 shares of the company’s stock, valued at approximately $65,903,992.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 50,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $8.42, for a total transaction of $421,000.00. Following the completion of the sale, the chief executive officer now owns 758,738 shares of the company’s stock, valued at approximately $6,388,573.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $9.17, for a total transaction of $104,968.99. Following the transaction, the director now directly owns 7,186,913 shares of the company’s stock, valued at approximately $65,903,992.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,235 shares of company stock worth $1,654,400. Corporate insiders own 15.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RXRX shares. KeyCorp dropped their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Recursion Pharmaceuticals in a report on Tuesday, June 25th.

Recursion Pharmaceuticals Trading Up 1.8 %

The firm’s fifty day moving average price is $8.44 and its 200-day moving average price is $9.51.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.04. The business had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $11.10 million. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. On average, equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mubadala Investment Co PJSC bought a new stake in Recursion Pharmaceuticals during the fourth quarter worth about $128,041,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Recursion Pharmaceuticals by 161.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,203,780 shares of the company’s stock worth $90,749,000 after buying an additional 5,680,656 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in Recursion Pharmaceuticals by 161.2% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock worth $90,565,000 after buying an additional 5,680,656 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Recursion Pharmaceuticals by 37.7% during the third quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock worth $118,627,000 after purchasing an additional 4,247,002 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Recursion Pharmaceuticals by 14.5% during the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock worth $211,072,000 after purchasing an additional 3,555,357 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.