Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.6% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 4.6% during mid-day trading on Friday . The stock traded as low as $7.05 and last traded at $7.31. Approximately 6,023,760 shares traded hands during trading, a decline of 12% from the average daily volume of 6,855,345 shares. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Leerink Partners reduced their price objective 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 dropped their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Down 3.5 %

The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -4.83 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 has a fifty day moving average of $6.81 and a 200 day moving average of $7.14.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business 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%. The business’s revenue for the quarter was up 147.6% on a year-over-year basis. During the same period last year, the company earned ($0.43) EPS. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total value of $94,800.00. Following the completion of the sale, the chief financial officer now directly owns 1,426,506 shares of the company’s stock, valued at approximately $9,015,517.92. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $6.31, for a total value of $37,860.00. Following the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at $3,288,380.78. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,788 shares of company stock valued at $682,691. Company insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC boosted its position in Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after buying an additional 4,626,268 shares during the period. State Street Corp raised its stake in shares of Recursion Pharmaceuticals by 47.1% in the third 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 in the last quarter. FMR LLC boosted its holdings in Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after purchasing an additional 170,810 shares during the period. Geode Capital Management LLC increased its holdings in Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after purchasing an additional 656,003 shares during the period. Finally, Lingotto Investment Management LLP raised its position in Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. Hedge funds and other 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.