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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRXGet Rating)’s share price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $9.82, but opened at $9.40. Recursion Pharmaceuticals shares last traded at $9.38, with a volume of 3,011 shares.

Specifically, CEO Christopher Gibson sold 36,053 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $11.58, for a total value of $417,493.74. Following the completion of the transaction, the chief executive officer now owns 562,959 shares in the company, valued at approximately $6,519,065.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Tina Marriott Larson sold 16,000 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $10.96, for a total transaction of $175,360.00. Following the completion of the transaction, the chief operating officer now owns 203,654 shares in the company, valued at approximately $2,232,047.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Gibson sold 36,053 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $11.58, for a total value of $417,493.74. Following the transaction, the chief executive officer now owns 562,959 shares of the company’s stock, valued at approximately $6,519,065.22. The disclosure for this sale can be found here. Insiders sold 168,516 shares of company stock worth $1,868,566 in the last quarter. 22.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. KeyCorp started coverage on Recursion Pharmaceuticals in a research note on Thursday, September 15th. They set an “overweight” rating and a $20.00 price target for the company. The Goldman Sachs Group increased their price objective on Recursion Pharmaceuticals from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, November 9th. Finally, SVB Leerink dropped their price objective on Recursion Pharmaceuticals from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Tuesday, October 25th.

Recursion Pharmaceuticals Trading Down 7.5 %

The firm has a fifty day simple moving average of $11.01 and a two-hundred day simple moving average of $9.29. The stock has a market cap of $1.72 billion, a PE ratio of -6.26 and a beta of -0.60.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its holdings in shares of Recursion Pharmaceuticals by 23.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,319 shares of the company’s stock valued at $77,000 after buying an additional 1,378 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Recursion Pharmaceuticals by 41.6% during the first quarter. Daiwa Securities Group Inc. now owns 7,241 shares of the company’s stock valued at $52,000 after purchasing an additional 2,127 shares during the period. Arizona State Retirement System boosted its stake in shares of Recursion Pharmaceuticals by 20.3% during the second quarter. Arizona State Retirement System now owns 12,969 shares of the company’s stock valued at $106,000 after purchasing an additional 2,188 shares during the period. Baldwin Brothers LLC MA boosted its stake in shares of Recursion Pharmaceuticals by 100.0% during the third quarter. Baldwin Brothers LLC MA now owns 5,502 shares of the company’s stock valued at $59,000 after purchasing an additional 2,751 shares during the period. Finally, CNA Financial Corp boosted its stake in shares of Recursion Pharmaceuticals by 11.2% during the first quarter. CNA Financial Corp now owns 28,672 shares of the company’s stock valued at $205,000 after purchasing an additional 2,890 shares during the period. 54.16% of the stock is owned by hedge funds and other 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.

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