Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 2.1% After Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price dropped 2.1% on Tuesday following insider selling activity. The company traded as low as $8.00 and last traded at $8.02. 535,584 shares changed hands during trading, a decline of 91% from the average session volume of 6,031,809 shares. The stock had previously closed at $8.19.

Specifically, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $9.17, for a total transaction of $104,968.99. Following the sale, the director now directly owns 7,186,913 shares of the company’s stock, valued at $65,903,992.21. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred 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 sale, the director now directly owns 7,186,913 shares in the company, valued at approximately $65,903,992.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Tina Marriott sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $8.78, for a total value of $26,340.00. Following the transaction, the chief operating officer now owns 535,457 shares of the company’s stock, valued at $4,701,312.46. The disclosure for this sale can be found here. Insiders sold a total of 252,235 shares of company stock valued at $2,040,900 in the last ninety days. Insiders own 15.75% of the company’s stock.

Analyst Ratings Changes

RXRX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Recursion Pharmaceuticals in a research note on Tuesday, June 25th. KeyCorp lowered their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th.

Recursion Pharmaceuticals Stock Down 3.5 %

The firm’s 50 day simple moving average is $8.47 and its two-hundred day simple moving average is $9.54. The stock has a market cap of $1.88 billion, a P/E ratio of -5.01 and a beta of 0.83.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. The firm had revenue of $13.80 million during the quarter, compared to the consensus estimate of $11.10 million. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) EPS. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC increased its stake in shares of Recursion Pharmaceuticals by 14.5% in the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock valued at $211,072,000 after purchasing an additional 3,555,357 shares during the period. Baillie Gifford & Co. grew its holdings in Recursion Pharmaceuticals by 10.5% in the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after buying an additional 2,522,132 shares in the last quarter. Vanguard Group Inc. increased its position in Recursion Pharmaceuticals by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock valued at $159,667,000 after acquiring an additional 349,554 shares during the period. Mubadala Investment Co PJSC bought a new stake in Recursion Pharmaceuticals during the 4th quarter valued at $128,041,000. Finally, Kinnevik AB publ boosted its position in Recursion Pharmaceuticals by 14.4% during the 2nd quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock worth $89,293,000 after acquiring an additional 1,500,000 shares during the period. 89.06% of the stock is currently owned by institutional investors.

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.