Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 5.5% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares fell 5.5% during mid-day trading on Tuesday . The company traded as low as $6.95 and last traded at $7.03. 5,334,303 shares changed hands during trading, a decline of 18% from the average session volume of 6,541,350 shares. The stock had previously closed at $7.44.

Analyst Ratings Changes

A number of brokerages recently commented on RXRX. Jefferies Financial Group cut their target price 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. Leerink Partners reduced their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Stock Down 2.1 %

The company has a market cap of $1.75 billion, a P/E ratio of -3.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The business’s 50 day moving average price is $6.77 and its 200-day moving average price is $7.23.

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 business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same period in the prior year, the firm earned ($0.43) earnings per share. The business’s quarterly revenue was up 147.6% compared to the same quarter last year. On average, analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares in the company, valued at $4,697,960.96. The trade was a 2.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total transaction of $71,200.34. Following the sale, the director now directly owns 7,098,428 shares of the company’s stock, valued at approximately $44,152,222.16. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,788 shares of company stock valued at $724,691 over the last quarter. Corporate insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in RXRX. ARK Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the period. Baillie Gifford & Co. grew its position in shares of Recursion Pharmaceuticals by 10.5% during the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after buying an additional 2,522,132 shares during the period. State Street Corp raised its position in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after acquiring an additional 4,120,685 shares during the period. FMR LLC boosted its stake in Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after acquiring an additional 170,810 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Recursion Pharmaceuticals by 13.7% in the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after purchasing an additional 656,003 shares in the last quarter. 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.