Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 0.1% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 0.1% on Wednesday . The company traded as low as $6.65 and last traded at $6.76. Approximately 12,067,375 shares were traded during trading, an increase of 74% from the average daily volume of 6,933,797 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $6.84 and its 200 day moving average price is $7.09. The firm has a market capitalization of $2.82 billion, a PE ratio of -4.71 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) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same period in the prior year, the business posted ($0.43) earnings per share. Recursion Pharmaceuticals’s revenue for the quarter was up 147.6% on a year-over-year basis. As a group, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $6.32, for a total transaction of $94,800.00. Following the sale, the chief financial officer now directly owns 1,426,506 shares of the company’s stock, valued at $9,015,517.92. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals 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 completion of the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at approximately $3,288,380.78. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,341 shares of company stock worth $488,290. Corporate insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RXRX. Charles Schwab Investment Management Inc. lifted its holdings in Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after purchasing an additional 288,926 shares in the last quarter. FMR LLC boosted its holdings 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 buying an additional 170,810 shares during the last quarter. State Street Corp increased its stake in Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Recursion Pharmaceuticals by 13.7% during the third 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, Perceptive Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals in the second quarter valued at approximately $5,769,000. 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.