Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 5.5% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was down 5.5% during trading on Tuesday . The stock traded as low as $6.95 and last traded at $7.03. Approximately 5,334,303 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 6,541,350 shares. The stock had previously closed at $7.44.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RXRX shares. Leerink Partners decreased their price objective 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. Jefferies Financial Group decreased their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Down 4.3 %

The firm’s 50 day moving average is $6.76 and its two-hundred day moving average is $7.24. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -4.59 and a beta of 0.85. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

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

Insider Activity

In related news, CFO Michael Secora sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the sale, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total transaction of $71,200.34. Following the sale, the director now directly owns 7,098,428 shares of the company’s stock, valued at approximately $44,152,222.16. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,788 shares of company stock valued at $724,691 in the last 90 days. 15.75% of the stock is currently owned by insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of RXRX. ARK Investment Management LLC increased its position in Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares in the last quarter. State Street Corp increased its position in Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares in the last quarter. Baillie Gifford & Co. increased its position in Recursion Pharmaceuticals by 10.5% during the 2nd 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 in the last quarter. Lingotto Investment Management LLP boosted its holdings in Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after acquiring an additional 1,500,000 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new position in Recursion Pharmaceuticals in the 2nd quarter worth approximately $8,250,000. Institutional investors and hedge funds 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.