Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 7.6% on Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX – Get Rating) shares were down 7.6% on Friday following insider selling activity. The company traded as low as $6.91 and last traded at $6.93. Approximately 109,903 shares changed hands during trading, a decline of 88% from the average daily volume of 881,688 shares. The stock had previously closed at $7.50.

Specifically, major shareholder Mubadala Investment Co Pjsc purchased 141,646 shares of the stock in a transaction on Tuesday, January 3rd. The stock was bought at an average cost of $7.50 per share, for a total transaction of $1,062,345.00. Following the completion of the acquisition, the insider now directly owns 11,935,288 shares of the company’s stock, valued at $89,514,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Shafique Virani sold 10,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $9.16, for a total value of $91,600.00. Following the transaction, the insider now owns 73,160 shares in the company, valued at approximately $670,145.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Mubadala Investment Co Pjsc acquired 141,646 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, January 3rd. The shares were purchased at an average price of $7.50 per share, for a total transaction of $1,062,345.00. Following the transaction, the insider now directly owns 11,935,288 shares in the company, valued at $89,514,660. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 581,017 shares of company stock valued at $4,440,853 and have sold 221,571 shares valued at $1,799,332. Insiders own 22.25% of the company’s stock.

Analyst Ratings Changes

Separately, SVB Leerink reduced their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, January 23rd.

Recursion Pharmaceuticals Price Performance

The company has a 50 day moving average of $8.21 and a 200-day moving average of $9.52. The company has a market capitalization of $1.35 billion, a P/E ratio of -5.16 and a beta of -0.33.

Recursion Pharmaceuticals (NASDAQ:RXRX – Get Rating) last posted its earnings results on Monday, February 27th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.16). Recursion Pharmaceuticals had a negative return on equity of 53.07% and a negative net margin of 601.05%. The company had revenue of $13.68 million during the quarter, compared to the consensus estimate of $66.68 million. Research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its position in Recursion Pharmaceuticals by 99.3% during the third quarter. CWM LLC now owns 8,990 shares of the company’s stock valued at $96,000 after acquiring an additional 4,480 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Recursion Pharmaceuticals by 55.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 60,000 shares of the company’s stock valued at $651,000 after acquiring an additional 21,500 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Recursion Pharmaceuticals during the second quarter valued at about $442,000. Crown Advisors Management Inc. acquired a new position in shares of Recursion Pharmaceuticals in the third quarter valued at approximately $319,000. Finally, Teacher Retirement System of Texas acquired a new position in Recursion Pharmaceuticals during the 3rd quarter worth approximately $171,000. 63.62% of the stock is currently owned by institutional investors.

About Recursion Pharmaceuticals

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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 IIa clinical trial to treat cerebral cavernous malformation; REC-2282 for the treatment of neurofibromatosis type 2; REC-4881 to treat familial adenomatous polyposis; and REC-3599, which is in Phase I clinical trial to treat GM2 gangliosidosis.