Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.1% Following Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price fell 3.1% during mid-day trading on Thursday after KeyCorp lowered their price target on the stock from $12.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Recursion Pharmaceuticals traded as low as $6.98 and last traded at $7.26. 12,980,114 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 17,259,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.75.

Insider Activity at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the transaction, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,288,380.78. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $114,900.00. Following the transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,341 shares of company stock worth $393,490. 15.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Recursion Pharmaceuticals in the 3rd quarter valued at about $25,000. GAMMA Investing LLC raised its stake in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after buying an additional 4,948 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Recursion Pharmaceuticals by 176.9% in the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after buying an additional 4,091 shares during the period. KBC Group NV boosted its stake in Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after buying an additional 3,377 shares in the last quarter. Finally, Amalgamated Bank raised its position in Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after acquiring an additional 2,459 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Stock Down 3.1 %

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’s fifty day simple moving average is $6.91 and its two-hundred day simple moving average is $7.02. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $26.08 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.43) EPS. On average, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

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.