Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 11.7% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 11.7% during mid-day trading on Tuesday . The stock traded as low as $7.93 and last traded at $7.94. Approximately 13,934,910 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 25,605,641 shares. The stock had previously closed at $9.00.

Analyst Ratings Changes

Several equities analysts have weighed in on RXRX shares. KeyCorp dropped their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th.

Recursion Pharmaceuticals Trading Down 11.6 %

The stock’s fifty day moving average price is $7.59 and its 200 day moving average price is $7.04. The stock has a market cap of $3.11 billion, a PE ratio of -5.23 and a beta of 0.86. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of RXRX. Allspring Global Investments Holdings LLC bought a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter worth about $25,000. Private Advisor Group LLC grew its position in shares of Recursion Pharmaceuticals by 28.6% in the 3rd quarter. Private Advisor Group LLC now owns 15,419 shares of the company’s stock worth $102,000 after buying an additional 3,432 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 527.3% during the third quarter. International Assets Investment Management LLC now owns 84,682 shares of the company’s stock worth $558,000 after acquiring an additional 71,182 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Recursion Pharmaceuticals in the third quarter valued at about $89,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Recursion Pharmaceuticals by 1,173.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,539 shares of the company’s stock worth $611,000 after purchasing an additional 80,664 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.