Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3.3% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price fell 3.3% during mid-day trading on Thursday . The company traded as low as $6.78 and last traded at $6.78. 1,108,949 shares were traded during trading, a decline of 81% from the average session volume of 5,763,784 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RXRX. Needham & Company LLC reduced their target price on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Leerink Partners reduced 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 report on Tuesday, September 3rd. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Jefferies Financial Group reduced their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.40.

Recursion Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.07 and a current ratio of 6.07. The stock’s 50-day moving average is $6.70 and its 200 day moving average is $7.82. The stock has a market capitalization of $1.56 billion, a PE ratio of -4.22 and a beta of 0.80.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its 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). The company had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $11.96 million. Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the business earned ($0.38) earnings per share. As a group, equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total transaction of $97,070.56. Following the transaction, the director now directly owns 7,155,663 shares of the company’s stock, valued at approximately $60,680,022.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total value of $97,070.56. Following the completion of the sale, the director now owns 7,155,663 shares in the company, valued at approximately $60,680,022.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total transaction of $94,800.00. Following the completion of the sale, the chief financial officer now owns 1,426,506 shares of the company’s stock, valued at $9,015,517.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,682 shares of company stock valued at $1,353,652 in the last ninety days. Insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Recursion Pharmaceuticals by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 15,665,210 shares of the company’s stock valued at $154,459,000 after purchasing an additional 158,376 shares during the period. Wedmont Private Capital lifted its stake in shares of Recursion Pharmaceuticals by 11.8% in the first quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock valued at $172,000 after purchasing an additional 2,000 shares during the period. TB Alternative Assets Ltd. acquired a new stake in shares of Recursion Pharmaceuticals in the first quarter valued at about $706,000. Oxinas Partners Wealth Management LLC acquired a new stake in shares of Recursion Pharmaceuticals in the first quarter valued at about $122,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Recursion Pharmaceuticals by 12.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,362,803 shares of the company’s stock valued at $103,317,000 after purchasing an additional 1,159,023 shares during the period. 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.