Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) were down 3% during trading on Thursday . The stock traded as low as $7.19 and last traded at $7.34. Approximately 3,588,558 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 6,445,247 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RXRX shares. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday. Leerink Partners lowered their target price 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. Finally, Jefferies Financial Group cut their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Three equities research 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 stock presently has a consensus rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock has a market cap of $1.99 billion, a P/E ratio of -4.54 and a beta of 0.85. The company has a 50-day simple moving average of $6.73 and a 200-day simple moving average of $7.27.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results 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). 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 net margin of 579.52% and a negative return on equity of 76.56%. The business’s quarterly revenue was up 147.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) earnings per share. On average, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $6.32, for a total value of $94,800.00. Following the transaction, the chief financial officer now directly owns 1,426,506 shares in the company, valued at $9,015,517.92. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,235 shares of company stock valued at $802,988. Insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Recursion Pharmaceuticals by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after acquiring an additional 288,926 shares during the period. FMR LLC grew its stake in shares of Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the period. Perceptive Advisors LLC bought a new stake in Recursion Pharmaceuticals in the second quarter valued at about $5,769,000. Pier 88 Investment Partners LLC boosted its holdings in Recursion Pharmaceuticals by 442.1% during the third quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company’s stock worth $882,000 after buying an additional 109,210 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Recursion Pharmaceuticals by 6,439.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 169,900 shares of the company’s stock worth $1,274,000 after buying an additional 167,302 shares during the period. 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.