The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Recursion Pharmaceuticals Inc shares valued at $175,349 were sold by Secora Michael on Apr 17 ’24. At $7.58 per share, Secora Michael sold 23,124 shares. The insider’s holdings dropped to 1,231,055 shares worth approximately $9.11 million following the completion of this transaction.
Also, Secora Michael sold 25,000 shares, netting a total of over 191,658 in proceeds. Following the sale of shares at $7.67 each, the insider now holds 1,216,679 shares.
Before that, Borgeson Blake had sold 11,447 shares from its account. In a trade valued at $87,725, the Director traded Recursion Pharmaceuticals Inc shares for $7.66 each. Upon closing the transaction, the insider’s holdings decreased to 11,447 shares, worth approximately $53.5 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 drop of approximately -17.04%. Over the course of the year, Recursion Pharmaceuticals Inc shares have dropped approximately -24.95%. Shares of the company reached a 52-week high of $15.74 on 02/27/24 and a 52-week low of $7.27 on 04/18/24. A 50-day SMA is recorded $10.70, while a 200-day SMA reached $9.34. Nevertheless, trading volume fell to 2.86 million shares from 3.85 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 7.25, which, if violated, would cause prices to drop to 7.11. In the upper region, resistance lies at 7.56. The next price resistance is at 7.73. RSI (Relative Strength Index) is 28.97 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.01, which suggests the price will decrease in the coming days. Percent R is at 95.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
