Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 2.6%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price dropped 2.6% on Tuesday . The company traded as low as $7.17 and last traded at $7.21. Approximately 1,887,338 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 6,175,219 shares. The stock had previously closed at $7.40.

Wall Street Analysts Forecast Growth

RXRX has been the subject of a number of research reports. KeyCorp lowered their price target on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Recursion Pharmaceuticals in a report on Tuesday, June 25th.

Recursion Pharmaceuticals Price Performance

The stock has a market capitalization of $1.83 billion, a P/E ratio of -4.80 and a beta of 0.83. The business’s 50 day simple moving average is $8.74 and its 200-day simple moving average is $9.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.04. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. The firm had revenue of $13.80 million for the quarter, compared to analysts’ expectations of $11.10 million. During the same period last year, the firm earned ($0.34) earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, CEO Christopher Gibson sold 50,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $7.73, for a total transaction of $386,500.00. Following the transaction, the chief executive officer now directly owns 863,524 shares of the company’s stock, valued at $6,675,040.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $7.32, for a total transaction of $109,800.00. Following the transaction, the chief financial officer now directly owns 1,292,218 shares of the company’s stock, valued at $9,459,035.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher Gibson sold 50,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.73, for a total transaction of $386,500.00. Following the transaction, the chief executive officer now directly owns 863,524 shares in the company, valued at $6,675,040.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 233,806 shares of company stock valued at $1,898,027. 15.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RXRX. Benjamin F. Edwards & Company Inc. bought a new stake in Recursion Pharmaceuticals in the 1st quarter valued at $26,000. National Bank of Canada FI lifted its position in Recursion Pharmaceuticals by 90.9% in the 4th quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in Recursion Pharmaceuticals in the 4th quarter valued at $47,000. GAMMA Investing LLC lifted its position in Recursion Pharmaceuticals by 1,588.4% in the 2nd 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. Finally, Oxford Wealth Group LLC bought a new stake in Recursion Pharmaceuticals in the 1st quarter valued at $106,000. 89.06% of the stock is owned by institutional investors.

Recursion Pharmaceuticals Company Profile

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.