Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3.7% After Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was down 3.7% on Friday following insider selling activity. The stock traded as low as $7.15 and last traded at $7.29. Approximately 3,043,775 shares were traded during trading, a decline of 50% from the average daily volume of 6,103,637 shares. The stock had previously closed at $7.57.

Specifically, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $8.82, for a total value of $100,962.54. Following the completion of the sale, the director now directly owns 7,241,308 shares in the company, valued at $63,868,336.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $8.82, for a total value of $100,962.54. Following the completion of the sale, the director now directly owns 7,241,308 shares in the company, valued at $63,868,336.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Gibson sold 40,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total transaction of $353,600.00. Following the completion of the sale, the chief executive officer now owns 978,524 shares of the company’s stock, valued at $8,650,152.16. The disclosure for this sale can be found here. Insiders have sold a total of 258,806 shares of company stock valued at $2,158,997 over the last ninety days. Corporate insiders own 15.75% of the company’s stock.

Analyst Ratings Changes

RXRX has been the subject of several recent analyst reports. KeyCorp raised their price objective on shares of Recursion Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, June 25th.

Recursion Pharmaceuticals Stock Down 1.0 %

The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -4.69 and a beta of 0.86. The company’s 50-day moving average is $8.84 and its 200-day moving average is $9.94.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.04. The company had revenue of $13.80 million during the quarter, compared to analyst estimates of $11.10 million. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. Recursion Pharmaceuticals’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 200.4% in the fourth quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company’s stock valued at $203,651,000 after purchasing an additional 13,777,689 shares during the period. Mubadala Investment Co PJSC purchased a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $128,041,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Recursion Pharmaceuticals by 161.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,203,780 shares of the company’s stock valued at $90,749,000 after purchasing an additional 5,680,656 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of Recursion Pharmaceuticals by 161.2% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock valued at $90,565,000 after purchasing an additional 5,680,656 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Recursion Pharmaceuticals by 37.7% in the third quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock valued at $118,627,000 after purchasing an additional 4,247,002 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

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.