Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down to $7.28

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $7.28, but opened at $6.46. Recursion Pharmaceuticals shares last traded at $6.41, with a volume of 4,421,462 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp cut their price target on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Needham & Company LLC dropped their price objective on Recursion Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Recursion Pharmaceuticals Stock Performance

The business has a 50 day moving average of $7.50 and a 200 day moving average of $8.99. The company has a market capitalization of $1.44 billion, a P/E ratio of -4.04 and a beta of 0.83. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.04.

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 the consensus estimate of $11.96 million. During the same period in the previous year, the company posted ($0.38) earnings per share. Recursion Pharmaceuticals’s quarterly revenue was up 30.9% on a year-over-year basis. On average, sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.6 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $7.21, for a total transaction of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares in the company, valued at $3,860,644.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $7.21, for a total transaction of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares in the company, valued at $3,860,644.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $7.12, for a total value of $81,502.64. Following the sale, the director now owns 7,132,769 shares in the company, valued at $50,785,315.28. The disclosure for this sale can be found here. Insiders have sold a total of 255,682 shares of company stock worth $1,990,912 over the last ninety days. Company insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $5,769,000. Algert Global LLC purchased a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $129,000. Scientech Research LLC purchased a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $1,052,000. The Manufacturers Life Insurance Company raised its holdings in shares of Recursion Pharmaceuticals by 32.6% in the second quarter. The Manufacturers Life Insurance Company now owns 111,613 shares of the company’s stock worth $837,000 after buying an additional 27,440 shares during the period. Finally, Marathon Capital Management raised its holdings in shares of Recursion Pharmaceuticals by 1.6% in the second quarter. Marathon Capital Management now owns 175,220 shares of the company’s stock worth $1,314,000 after buying an additional 2,675 shares during the period. 89.06% of the stock is currently owned by hedge funds and other 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.