Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price dropped 3% during trading on Thursday . The company traded as low as $7.19 and last traded at $7.34. Approximately 3,588,558 shares traded hands 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 Analyst Weigh In

RXRX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday. Leerink Partners dropped their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group reduced their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Down 0.4 %

The company’s fifty day moving average is $6.73 and its 200-day moving average is $7.27. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.99 billion, a P/E ratio of -4.54 and a beta of 0.85.

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). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same quarter last year, the company earned ($0.43) earnings per share. The firm’s revenue was up 147.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.84, for a total value of $78,297.48. Following the sale, the director now directly owns 7,109,875 shares in the company, valued at $48,631,545. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the transaction, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at $4,697,960.96. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,235 shares of company stock valued at $802,988 in the last three months. Company insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Axxcess Wealth Management LLC raised its stake in shares of Recursion Pharmaceuticals by 4.3% in the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after purchasing an additional 1,795 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Recursion Pharmaceuticals by 2.9% in the 3rd quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock valued at $427,000 after buying an additional 1,800 shares in the last quarter. Interchange Capital Partners LLC lifted its holdings in shares of Recursion Pharmaceuticals by 7.3% during the 2nd quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company’s stock worth $268,000 after acquiring an additional 2,349 shares during the period. Amalgamated Bank boosted its position in shares of Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after acquiring an additional 2,459 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Recursion Pharmaceuticals by 13.5% in the second quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after acquiring an additional 2,598 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.