Recursion Pharmaceuticals (NASDAQ:RXRX) Reaches New 1-Year Low – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.84 and last traded at $5.93, with a volume of 1322230 shares changing hands. The stock had previously closed at $6.10.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RXRX. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, November 7th. Jefferies Financial Group decreased 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, Leerink Partners dropped their target price on 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $6.66 and its two-hundred day moving average price is $7.57.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company’s revenue for the quarter was up 147.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. On average, sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other 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 completion of the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total value of $87,455.08. Following the completion of the sale, the director now owns 7,066,113 shares of the company’s stock, valued at $53,985,103.32. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,682 shares of company stock worth $1,133,471 over the last ninety days. Corporate insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its holdings in Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after buying an additional 4,626,268 shares during the last quarter. State Street Corp lifted its holdings in Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Baillie Gifford & Co. boosted its position in Recursion Pharmaceuticals by 10.5% during the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after purchasing an additional 2,522,132 shares during the period. Kinnevik AB publ raised its position in shares of Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after purchasing an additional 1,500,000 shares during the period. Finally, Lingotto Investment Management LLP lifted its stake in shares of Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after buying an additional 1,500,000 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

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.