Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX – Get Free Report) shares fell 2.1% during trading on Thursday . The company traded as low as $5.95 and last traded at $6.02. 1,935,999 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 5,807,483 shares. The stock had previously closed at $6.15.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RXRX. Needham & Company LLC cut their price objective on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. KeyCorp cut their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Leerink Partners decreased their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.40.
View Our Latest Analysis on Recursion Pharmaceuticals
Recursion Pharmaceuticals Trading Up 0.3 %
Recursion Pharmaceuticals (NASDAQ:RXRX – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The firm had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $11.96 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis. As a group, equities analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current year.
Insider Activity at Recursion Pharmaceuticals
In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, July 23rd. The stock was 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 $60,680,022.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $6.04, for a total value of $120,800.00. Following the transaction, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at approximately $4,606,442.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total value of $97,070.56. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,682 shares of company stock worth $1,258,852. 15.75% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Recursion Pharmaceuticals
Several large investors have recently made changes to their positions in the business. ARK Investment Management LLC lifted its position in Recursion Pharmaceuticals by 14.5% during the 2nd quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock worth $211,072,000 after acquiring an additional 3,555,357 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Recursion Pharmaceuticals by 10.5% in the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock valued at $199,425,000 after purchasing an additional 2,522,132 shares during the period. Vanguard Group Inc. grew its holdings in Recursion Pharmaceuticals by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock valued at $159,667,000 after purchasing an additional 349,554 shares in the last quarter. Mubadala Investment Co PJSC purchased a new stake in Recursion Pharmaceuticals during the 4th quarter worth $128,041,000. Finally, Kinnevik AB publ lifted its holdings in Recursion Pharmaceuticals by 14.4% in the 2nd quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock worth $89,293,000 after buying an additional 1,500,000 shares in the last quarter. Institutional investors and hedge funds 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.
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