New York, July 5, 2026, 18:04 EDT
- Recursion Pharmaceuticals, Inc. NASDAQ:RXRX ended at $3.80, gaining 3.54% in the last session before the July 3 U.S. equity holiday.
- RXRX gained roughly 8.0% in the four-session week, doing better than State Street SPDR S&P Biotech ETF (NYSEARCA:XBI) and iShares Biotechnology ETF (NASDAQ:IBB).
- Filings on July 2 showed ex-director Christopher Gibson filed to sell 100,000 shares. Other Form 4s also showed stock awards to outside directors.
- This week could depend on whether volume stays up as traders look ahead to a second-half 2026 regulatory update for REC-4881 and new REC-1245 dose-escalation data from Recursion.
Recursion Pharmaceuticals, Inc. NASDAQ:RXRX is outpacing the key biotech ETFs this week ahead of the July 6 reopen. The bigger move came on volume. Shares changed hands 114.1 million times in four sessions. That’s already more than the whole previous week. Investors are looking at Recursion’s big cash pile with no new clinical updates coming for months.
U.S. stock markets didn’t open July 3 for the Independence Day holiday, leaving the most recent session on July 2. RXRX ended Thursday at $3.80, up 3.54%, trading 32.5 million shares. Broader markets showed a split: the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) dipped 0.13%, but biotech ETFs moved higher.
| Latest tape | RXRX | Market comparison |
|---|---|---|
| July 2 move | Gained 3.54%, settled at $3.80 | XBI up 2.50%; IBB rose 2.93%; SPY slipped 0.13% |
| Four-session week | Up 8.0% | XBI added 3.3%; IBB climbed 4.5%; S&P 500 up 1.8%; Nasdaq Composite rose 2.1% |
| Average daily volume last week | 28.5 mln shares traded | Previous five-session RXRX average: 19.7 mln |
The volume shift is important since Recursion stays a data and funding story rather than an earnings one. There were no product sales in Q1 and revenue dropped to $6.5 million from $14.7 million last year. Net loss came in lower at $117.5 million, improved from $202.5 million.
Recursion’s cash and restricted cash totaled $665.2 million at March 31, making up around a third of its $2.01 billion market cap. The company said that cash figure is key for the stock, as it expects to burn less than $390 million in operating cash in 2026. Recursion says its current cash position should last into early 2028 without it needing to raise more funds.
| Balance-sheet item | Latest figure | Investor read |
|---|---|---|
| Cash and restricted cash | $665.2 mln | Roughly a third of market cap |
| Q1 net cash used in operations | $81.1 mln | Burn remains focus |
| Q1 cash operating expense | $85.1 mln | Yearly outlook under $390 mln |
| Q1 revenue / net loss | $6.5 mln / $117.5 mln loss | Shares still move on data, cash, dilution risk |
Dilution isn’t just a possibility here. Recursion’s most recent quarterly filing shows it had racked up a $2.2 billion deficit, was expecting to post big operating losses, and said it will probably have to seek more funding. The company hadn’t tapped its $300 million at-the-market stock sale program as of March 31.
Company filings this week were mostly ownership moves, not trial updates. Gibson filed a July 2 Form 144 planning to sell 100,000 Class A shares, worth $374,500. The filing says there are 524.7 million shares outstanding, so the sale would be about 0.02% of the total.
| Fresh filing | Size | What it says |
|---|---|---|
| Christopher Gibson Form 144, July 2 | Plans to sell 100,000 shares | Form shows another 100,000 shares sold July 1 |
| Zavain Dar Form 4 | 5,109 shares, no cost | Payment for board role |
| Dean Y. Li Form 4 | 3,747 shares, no cost | Director compensation |
Recursion CEO Najat Khan said in May the company had “strong momentum and execution across our portfolio” after early REC-1245 safety data, Phase 2 REC-4881 signals, and the first patient dosed in the REC-4539 Phase 1 trial. Recursion Pharmaceuticals, Inc.
Ben Taylor, CFO and president of Recursion UK, told a Goldman Sachs NYSE:GS healthcare event last month the company runs programs across “biology, chemistry or ClinTech” to spot possible failures. Seeking Alpha
| Week-ahead focus | Company-guided timing | Stock issue |
|---|---|---|
| REC-4881 regulatory update after FDA interaction | Second half 2026 | Focus remains on FAP program timeline |
| REC-1245 new Phase 1 dose-escalation results | Second half 2026 | Looks at safety and dosing questions |
| REC-7735 / REC-102 Phase 1 go/no-go calls | Second half 2026 | Pipeline expands, but adds costs |
Analyst price targets on RXRX could still see big swings. Investing.com puts the average 12-month target at $6.64, with estimates ranging from $3 up to $10. The 52-week trading range sits between $2.77 and $7.18.
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