Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 6.1% After Insider Selling

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) dropped 6.1% during trading on Monday after an insider sold shares in the company. The company traded as low as $10.50 and last traded at $10.51. Approximately 3,359,534 shares traded hands during trading, a decline of 54% from the average daily volume of 7,262,308 shares. The stock had previously closed at $11.19.Specifically, CEO Christopher Gibson sold 36,319 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.86, for a total value of $430,743.34. Following the sale, the chief executive officer now owns 1,108,524 shares of the company's stock, valued at $13,147,094.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Secora sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $7.39, for a total value of $184,750.00. Following the transaction, the chief financial officer now owns 943,514 shares in the company, valued at approximately $6,972,568.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Gibson sold 36,319 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.86, for a total transaction of $430,743.34. Following the sale, the chief executive officer now owns 1,108,524 shares of the company's stock, valued at $13,147,094.64. The disclosure for this sale can be found here. Insiders have sold a total of 394,695 shares of company stock worth $4,115,402 in the last ninety days. Company insiders own 19.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on RXRX shares. TD Cowen initiated coverage on Recursion Pharmaceuticals in a report on Friday, January 26th. They set a "market perform" rating for the company. Needham & Company LLC lifted their target price on Recursion Pharmaceuticals from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price target on Recursion Pharmaceuticals from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, November 13th. Finally, 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. 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.com, Recursion Pharmaceuticals presently has a consensus rating of "Hold" and an average target price of $12.75.

Recursion Pharmaceuticals Stock Performance

The stock's 50 day simple moving average is $11.28 and its 200 day simple moving average is $8.85. The firm has a market cap of $2.46 billion, a P/E ratio of -6.89 and a beta of 0.83.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC grew its position in Recursion Pharmaceuticals by 200.4% in the 4th quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company's stock worth $203,651,000 after purchasing an additional 13,777,689 shares in the last quarter. Mubadala Investment Co PJSC bought a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $128,041,000. Nvidia Corp purchased a new stake in shares of Recursion Pharmaceuticals during the fourth quarter valued at approximately $75,985,000. FMR LLC lifted its holdings in Recursion Pharmaceuticals by 134.4% during the third quarter. FMR LLC now owns 10,689,532 shares of the company's stock worth $81,775,000 after acquiring an additional 6,129,935 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Recursion Pharmaceuticals by 161.2% in the 4th 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. 57.82% of the stock is owned by hedge funds and other institutional investors.

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 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 1b/2 clinical trial to treat AXIN1 or APC mutant cancers.

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