Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.4% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $6.81 and last traded at $6.88. 4,370,890 shares traded hands during trading, a decline of 33% from the average session volume of 6,568,276 shares. The stock had previously closed at $7.12.

Analyst Ratings Changes

RXRX has been the topic of several recent research reports. Leerink Partners decreased their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group lowered their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.75 billion, a P/E ratio of -3.98 and a beta of 0.85. The business’s 50 day simple moving average is $6.77 and its 200 day simple moving average is $7.22.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same period last year, the company earned ($0.43) earnings per share. The business’s revenue for the quarter was up 147.6% on a year-over-year basis. Sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now owns 1,499,631 shares in the company, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $7.00, for a total value of $42,000.00. Following the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at approximately $3,647,966. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,788 shares of company stock valued at $724,691 over the last ninety days. 15.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXRX. Axxcess Wealth Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 4.3% in the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after purchasing an additional 1,795 shares in the last quarter. Green Alpha Advisors LLC lifted its position in Recursion Pharmaceuticals by 2.9% during the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock valued at $427,000 after purchasing an additional 1,800 shares during the last quarter. Interchange Capital Partners LLC grew its stake in shares of Recursion Pharmaceuticals by 7.3% in the 2nd quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company’s stock worth $268,000 after buying an additional 2,349 shares in the last quarter. Amalgamated Bank increased 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 buying an additional 2,459 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after buying an additional 2,598 shares in the last quarter. 89.06% of the stock is 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.