Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down Following Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $8.76, but opened at $7.00. Recursion Pharmaceuticals shares last traded at $7.01, with a volume of 6,654,200 shares changing hands.

Specifically, CEO Christopher Gibson sold 50,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $7.73, for a total transaction of $386,500.00. Following the completion of the sale, the chief executive officer now directly owns 863,524 shares in the company, valued at $6,675,040.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher Gibson sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $7.73, for a total transaction of $386,500.00. Following the completion of the transaction, the chief executive officer now owns 863,524 shares of the company’s stock, valued at $6,675,040.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $8.82, for a total transaction of $100,962.54. Following the transaction, the director now directly owns 7,241,308 shares of the company’s stock, valued at approximately $63,868,336.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,806 shares of company stock worth $2,158,997. Company insiders own 15.75% of the company’s stock.

Analyst Ratings Changes

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

Recursion Pharmaceuticals Price Performance

The stock’s 50-day simple moving average is $8.84 and its 200 day simple moving average is $9.92.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings in shares of Recursion Pharmaceuticals by 90.9% in the 4th quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Recursion Pharmaceuticals by 11.8% in the 1st quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock valued at $172,000 after buying an additional 2,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Recursion Pharmaceuticals in the 1st quarter valued at $26,000. Arizona State Retirement System boosted its holdings in shares of Recursion Pharmaceuticals by 8.5% in the 4th quarter. Arizona State Retirement System now owns 39,926 shares of the company’s stock valued at $394,000 after buying an additional 3,125 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Recursion Pharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,359 shares of the company’s stock valued at $161,000 after buying an additional 4,148 shares in the last quarter. Institutional investors and hedge funds 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.