Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 6.9% – What’s Next?

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 6.9% during trading on Monday . The company traded as low as $6.01 and last traded at $6.14. Approximately 8,113,213 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 25,409,162 shares. The stock had previously closed at $6.59.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RXRX. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. KeyCorp decreased their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Leerink Partners reduced their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Finally, Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.25.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The business’s 50-day moving average is $7.61 and its 200-day moving average is $7.05. The company has a market capitalization of $2.44 billion, a PE ratio of -3.96 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. During the same period in the prior year, the firm earned ($0.42) earnings per share. The business’s revenue for the quarter was down 57.8% compared to the same quarter last year. On average, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc grew its position in Recursion Pharmaceuticals by 0.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock valued at $2,774,000 after purchasing an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after buying an additional 1,353 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 4.3% during the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after buying an additional 1,795 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Recursion Pharmaceuticals by 7.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in Recursion Pharmaceuticals by 10.6% in the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after acquiring an additional 2,000 shares during the last quarter. 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.