Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.49, but opened at $7.24. Recursion Pharmaceuticals shares last traded at $7.18, with a volume of 3,042,116 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RXRX shares. KeyCorp lowered their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Recursion Pharmaceuticals has a consensus rating of “Hold” and an average price target of $8.75.

Recursion Pharmaceuticals Trading Down 2.7 %

The firm’s 50-day simple moving average is $6.90 and its 200 day simple moving average is $6.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its 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 company had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals’s revenue was up 147.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.43) EPS. As a group, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $6.72, for a total transaction of $76,923.84. Following the completion of the sale, the director now owns 7,077,560 shares of the company’s stock, valued at $47,561,203.20. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,894 shares of company stock valued at $279,279. 15.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Recursion Pharmaceuticals during the third quarter worth $25,000. Decker Retirement Planning Inc. acquired a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth about $26,000. GAMMA Investing LLC boosted its holdings in shares of Recursion Pharmaceuticals by 1,979.2% during 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 during the period. Farther Finance Advisors LLC grew its stake in Recursion Pharmaceuticals by 176.9% in the 3rd 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 last quarter. Finally, KBC Group NV raised its holdings in Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after acquiring an additional 3,377 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.