Recursion Pharmaceuticals (NASDAQ:RXRX) Director Sells 50,000 Shares of Stock

Key Points

• Director Blake Borgeson sold 50,000 Recursion Pharmaceuticals shares at an average price of $4.84, generating $242,000. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 6.11 million shares.
• RXRX shares fell to $4.27 during Wednesday trading, while the company reported a quarterly loss of $0.25 per share and revenue of $7.67 million, below analyst expectations.
• Analysts maintain a consensus “Hold” rating with an $8.06 price target; institutional investors own approximately 89.06% of the company.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) Director Blake Borgeson sold 50,000 shares of the firm's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total transaction of $242,000.00. Following the completion of the transaction, the director directly owned 6,108,287 shares of the company's stock, valued at $29,564,109.08. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Blake Borgeson also recently made the following trade(s):

• On Tuesday, September 1st, Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock. The stock was sold at an average price of $3.34, for a total transaction of $100,200.00.
• On Tuesday, August 4th, Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock. The stock was sold at an average price of $3.25, for a total transaction of $97,500.00.

Recursion Pharmaceuticals Stock Performance

Shares of RXRX traded down $0.36 during midday trading on Wednesday, reaching $4.27. The stock had a trading volume of 40,600,630 shares, compared to its average volume of 19,026,078. The firm has a 50 day simple moving average of $3.50 and a 200-day simple moving average of $3.37. Recursion Pharmaceuticals, Inc. has a one year low of $2.77 and a one year high of $7.18. The firm has a market cap of $2.29 billion, a PE ratio of -4.11 and a beta of 1.04. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.01.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 50.41% and a negative net margin of 945.94%.The firm had revenue of $7.67 million for the quarter, compared to analyst estimates of $10.97 million. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RXRX shares. Morgan Stanley set a $5.30 price objective on Recursion Pharmaceuticals in a research report on Monday, August 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Recursion Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RXRX. Hsbc Holdings PLC lifted its position in Recursion Pharmaceuticals by 537.3% during the fourth quarter. Hsbc Holdings PLC now owns 818,316 shares of the company's stock worth $3,367,000 after acquiring an additional 689,903 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Recursion Pharmaceuticals in the first quarter valued at approximately $7,370,000. Bank of New York Mellon Corp increased its stake in shares of Recursion Pharmaceuticals by 29.3% during the first quarter. Bank of New York Mellon Corp now owns 1,462,631 shares of the company's stock worth $4,490,000 after purchasing an additional 331,048 shares during the period. Bank of America Corp DE increased its stake in shares of Recursion Pharmaceuticals by 18.2% during the first quarter. Bank of America Corp DE now owns 2,496,831 shares of the company's stock worth $7,665,000 after purchasing an additional 384,486 shares during the period. Finally, Norges Bank acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth approximately $23,473,000. Institutional investors and hedge funds own 89.06% of the company's stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc is a clinical-stage biotechnology company that uses biology, chemistry, automation and machine learning to discover and develop new medicines. The company's technology platform is designed to generate and analyze large volumes of biological and chemical data, helping researchers identify potential drug candidates and better understand disease mechanisms.

Recursion has focused its research and development activities on areas including oncology, rare diseases and neuroscience.

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