According to data compiled by S&P Global Market Intelligence, Recursion Pharmaceuticals (NASDAQ: RXRX) stock was shedding more than 17% of its value week-to-date as of Thursday night.
The company was the target of an analyst price target cut. On top of that, regulatory filings revealed that several of the clinical-stage biotech‘s executives had sold large piles of stock.
The analyst wielding the scissors was Sean Laaman from white-shoe investment bank Morgan Stanley (NYSE: MS). On Tuesday, he shaved $0.20 per share from his fair value assessment to a new level of $4.80, and maintained his equalweight (hold, in other words) recommendation on the stock. Detailed information on Laaman’s latest Recursion take weren’t immediately available.