Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Recursion Pharmaceuticals Inc shares valued at $360,800 were sold by Gibson Christopher on Apr 04 ’24. At $9.02 per share, Gibson Christopher sold 40,000 shares. The insider’s holdings dropped to 938,524 shares worth approximately $8.37 million following the completion of this transaction.
Also, Gibson Christopher sold 25,000 shares, netting a total of over 225,500 in proceeds. Following the sale of shares at $9.02 each, the insider now holds 0 shares.
Before that, Gibson Christopher had sold 40,000 shares from its account. In a trade valued at $353,600, the Chief Executive Officer traded Recursion Pharmaceuticals Inc shares for $8.84 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $8.73 million.
As published in their initiating research note from Morgan Stanley on May 22, 2023, Recursion Pharmaceuticals Inc [RXRX] has been an Equal-weight and the price target has been revised to $8. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of September 16, 2022, KeyBanc Capital Markets has initiated its “an Overweight” rating for RXRX. Earlier on April 18, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for RXRX stock which previously was a “a Buy”.
Analyzing RXRX Stock Performance
During the last five days, there has been a surge of approximately 2.18%. Over the course of the year, Recursion Pharmaceuticals Inc shares have dropped approximately -9.53%. Shares of the company reached a 52-week high of $15.74 on 02/27/24 and a 52-week low of $8.41 on 04/10/24. A 50-day SMA is recorded $10.87, while a 200-day SMA reached $9.34. Nevertheless, trading volume fell to 2.99 million shares from 2.6 million shares the previous day.
Support And Resistance Levels for Recursion Pharmaceuticals Inc (RXRX)
According to the 24-hour chart, there is a support level at 8.63, which, if violated, would cause prices to drop to 8.35. In the upper region, resistance lies at 9.07. The next price resistance is at 9.23. RSI (Relative Strength Index) is 38.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.55, which suggests the price will decrease in the coming days. Percent R is at 79.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Recursion Pharmaceuticals Inc subject to short interest?
Stocks of Recursion Pharmaceuticals Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 5.28 million shares to 43.52 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 38.24 million shares. A jump of 12.13% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.45 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.45.
