In a recent transaction on April 2, Blake Borgeson, a director at Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), sold 11,447 shares of the company's Class A common stock. The total value of the shares sold amounted to approximately $100,941, with prices ranging from $8.71 to $8.98 per share, according to a Form 4 filing with the Securities and Exchange Commission.
The reported sales price was a weighted average of $8.8182 per share. These transactions were executed under a prearranged 10b5-1 trading plan, which Borgeson had adopted on August 18, 2023. After the sale, Borgeson still owns a substantial number of shares in the company, with a reported 7,241,308 shares remaining in his possession.
Recursion Pharmaceuticals is a biotechnology firm based in Salt Lake City, Utah, specializing in biological products. The company's stock is publicly traded under the ticker symbol RXRX.
Investors and stockholders who are interested in the detailed sale price information for each lot can request it from the issuer or the SEC staff. The transactions are part of the normal course of business for corporate insiders and are reported regularly through SEC filings.
InvestingPro Insights
As investors digest the recent insider transactions at Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), it's crucial to consider the broader financial context in which these sales occur. The company, with a market capitalization of $2.1 billion, has been navigating through a challenging period. According to real-time data from InvestingPro, Recursion Pharmaceuticals has seen its revenue grow by 11.88% over the last twelve months as of Q1 2023. However, this growth has not been consistent, as evidenced by a quarterly revenue decline of 20.36% in Q1 2023.
Moreover, the company's stock performance has been under scrutiny, with a significant price drop over the last week and month. The one-week and one-month price total returns stand at -13.77% and -31.54%, respectively. These figures underscore the volatility that Recursion's shares have experienced recently, which may be a factor for investors to consider.
An InvestingPro Tip highlights that Recursion Pharmaceuticals holds more cash than debt on its balance sheet, which can be a reassuring sign of financial stability for investors. However, investors should note that the company's gross profit margins are weak, with a gross profit margin of only 4.46% over the last twelve months as of Q1 2023. This could indicate challenges in profitability and cost management that the company might be facing.
For those considering a deeper analysis, InvestingPro offers additional insights. There are 9 more InvestingPro Tips available for Recursion Pharmaceuticals, which can provide a more comprehensive understanding of the company's financial health and future prospects. To access these valuable tips and enhance your investment strategy, visit https://www.investing.com/pro/RXRX and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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