Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 7.6% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price fell 7.6% on Monday . The stock traded as low as $6.72 and last traded at $6.83. 5,774,679 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 6,880,626 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Leerink Partners dropped their target price 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, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Down 6.4 %

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $6.81 and its 200 day moving average is $7.13. The stock has a market cap of $1.98 billion, a PE ratio of -4.52 and a beta of 0.85.

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 firm had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals’s revenue was up 147.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. As a group, analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.22, for a total transaction of $71,200.34. Following the completion of the transaction, the director now directly owns 7,098,428 shares of the company’s stock, valued at $44,152,222.16. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,788 shares of company stock worth $682,691 over the last 90 days. 15.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Recursion Pharmaceuticals during the third quarter worth about $25,000. Farther Finance Advisors LLC boosted its position in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after acquiring an additional 4,091 shares during the last quarter. 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 last quarter. Amalgamated Bank lifted its stake in shares of Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after purchasing an additional 2,459 shares during the period. Finally, San Luis Wealth Advisors LLC acquired a new stake in shares of Recursion Pharmaceuticals during the third quarter worth $69,000. Institutional investors and hedge funds 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.