Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) has reported a recent sale of shares by Chief Financial Officer Secora Michael. According to the latest filing, the CFO sold a total of 30,000 shares of Class A Common Stock at prices ranging from $6.1666 to $6.3153, totaling approximately $187,228.
The transactions occurred on September 10 and September 11, as detailed in the filing with the Securities and Exchange Commission. On the first day, 15,000 shares were sold at a weighted average price of $6.1666, and on the following day, another 15,000 shares were sold at a weighted average price of $6.3153. These sales were conducted under a 10b5-1 trading plan adopted by Michael on March 1, 2024.
In addition to the sales, the CFO also acquired 39,375 shares of Class A Common Stock on each of the two days at a fixed price of $2.22 per share, amounting to a total of $174,825 for both days. These acquisitions are part of the officer's compensation structure and are typically scheduled in advance.
Following these transactions, Secora Michael's ownership in Recursion Pharmaceuticals stands at 1,402,131 shares of Class A Common Stock. The company, headquartered in Salt Lake City, Utah, operates within the biological products industry and is known for its use of artificial intelligence to accelerate drug discovery.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's prospects. The recent activities by Recursion Pharmaceuticals' CFO will likely be of interest to current and potential shareholders as they assess the company's performance and future potential.
In other recent news, Recursion Pharmaceuticals has been the focus of several significant developments. The company announced positive results from its Phase 2 trial for REC-994, a treatment for Symptomatic Cerebral Cavernous Malformation (CCM), meeting its primary safety endpoint. However, no significant differences were observed in patient-reported outcomes. Analyst firms Needham, KeyBanc, TD Cowen, and Jefferies have offered mixed ratings, with Needham maintaining a Buy rating but lowering the price target, and Jefferies reducing its price target while keeping a Hold rating.
In addition, Recursion Pharmaceuticals has announced a $30 million deal with Genentech and plans for a public offering of $200 million worth of Class A common stock, led by Goldman Sachs & Co (NYSE:GS). LLC and J.P. Morgan. The company has also secured a commitment from Evotec SE to support its proposed acquisition of UK-based Exscientia plc, bringing total shareholder support for the transaction to approximately 53%.
Leadership changes have also taken place, with Dr. Robert Hershberg appointed as the new Chair of the Board, and Dr. Najat Khan joining the company as its new Chief R&D Officer and Chief Commercial Officer. These recent developments reflect Recursion Pharmaceuticals' ongoing efforts to advance its internal pipeline and expand its operations.
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