Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 3% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 3% on Thursday . The stock traded as low as $6.40 and last traded at $6.48. Approximately 1,110,918 shares were traded during trading, a decline of 80% from the average daily volume of 5,668,327 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

Several research firms have commented on RXRX. Leerink Partners decreased their target price on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC decreased their price objective on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group cut their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Finally, KeyCorp decreased their price target on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $1.79 billion, a price-to-earnings ratio of -4.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.07 and a current ratio of 6.07. The company has a fifty day moving average of $6.68 and a two-hundred day moving average of $7.66.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $11.96 million. During the same period in the previous year, the business posted ($0.38) earnings per share. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. Equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $6.82, for a total transaction of $78,068.54. Following the completion of the transaction, the director now directly owns 7,144,216 shares of the company’s stock, valued at $48,723,553.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,288,380.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $6.82, for a total value of $78,068.54. Following the completion of the transaction, the director now directly owns 7,144,216 shares in the company, valued at $48,723,553.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,682 shares of company stock worth $1,322,013. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RXRX. Allspring Global Investments Holdings LLC acquired a new stake in Recursion Pharmaceuticals in the third quarter worth $25,000. Farther Finance Advisors LLC boosted its holdings in Recursion Pharmaceuticals by 176.9% in the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after acquiring an additional 4,091 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Recursion Pharmaceuticals by 1,588.4% during the second quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock valued at $48,000 after acquiring an additional 6,036 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Recursion Pharmaceuticals by 52.4% in the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after purchasing an additional 2,459 shares in the last quarter. Finally, San Luis Wealth Advisors LLC acquired a new stake in Recursion Pharmaceuticals in the 3rd quarter valued at $69,000. 89.06% of the stock is currently owned by institutional investors.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.