Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.9% on Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price was down 4.9% on Friday following insider selling activity. The company traded as low as $6.52 and last traded at $6.57. Approximately 1,149,152 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 5,710,360 shares. The stock had previously closed at $6.91.

Specifically, CFO Michael Secora sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total value of $87,455.08. Following the completion of the sale, the director now directly owns 7,066,113 shares in the company, valued at $53,985,103.32. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

RXRX has been the topic of a number of analyst reports. Leerink Partners decreased their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 3rd. Jefferies Financial Group decreased their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Stock Down 10.6 %

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -4.04 and a beta of 0.81. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $7.59.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same period in the prior year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was up 147.6% on a year-over-year basis. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC raised its stake in shares of Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after buying an additional 4,626,268 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of 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 acquiring an additional 2,522,132 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Recursion Pharmaceuticals by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock worth $159,667,000 after acquiring an additional 349,554 shares during the last quarter. State Street Corp grew its holdings in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares during the last quarter. Finally, Kinnevik AB publ grew its holdings in shares of Recursion Pharmaceuticals by 14.4% in 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 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.