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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.24, but opened at $7.06. Recursion Pharmaceuticals shares last traded at $7.13, with a volume of 2,351,590 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RXRX shares. Jefferies Financial Group decreased 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 note on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Leerink Partners cut 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Down 3.5 %

The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -4.83 and a beta of 0.85. The business’s 50 day moving average price is $6.81 and its 200-day moving average price is $7.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued 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). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. During the same period last year, the company posted ($0.43) earnings per share. The business’s quarterly revenue was up 147.6% on a year-over-year basis. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total transaction of $123,200.00. Following the completion of the transaction, the chief executive officer now owns 762,656 shares of the company’s stock, valued at $4,697,960.96. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,788 shares of company stock valued at $682,691. Corporate insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RXRX. ARK Investment Management LLC grew its holdings 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 buying an additional 4,626,268 shares in the last quarter. State Street Corp boosted its position in Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares during the last quarter. FMR LLC grew its stake in Recursion Pharmaceuticals by 2.1% in 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 period. Geode Capital Management LLC raised its holdings in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after acquiring an additional 656,003 shares during the last quarter. Finally, Lingotto Investment Management LLP lifted its stake in shares of Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after purchasing an additional 1,500,000 shares during the period. 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.