Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3.3% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) fell 3.3% during trading on Thursday . The company traded as low as $6.78 and last traded at $6.78. 1,108,949 shares traded hands during trading, a decline of 81% from the average session volume of 5,763,784 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RXRX. Leerink Partners lowered their price target 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. Jefferies Financial Group lowered their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. KeyCorp lowered their price target on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Needham & Company LLC lowered their price target on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.40.

Recursion Pharmaceuticals Trading Down 6.6 %

The business’s fifty day moving average is $6.70 and its 200-day moving average is $7.82. The stock has a market capitalization of $1.56 billion, a PE ratio of -4.22 and a beta of 0.80. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The company had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $11.96 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Recursion Pharmaceuticals’s revenue for the quarter was up 30.9% compared to the same quarter last year. As a group, analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $7.10, for a total transaction of $213,000.00. Following the completion of the sale, the chief executive officer now directly owns 758,738 shares in the company, valued at $5,387,039.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total transaction of $97,070.56. Following the transaction, the director now directly owns 7,155,663 shares of the company’s stock, valued at approximately $60,680,022.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Gibson sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $7.10, for a total transaction of $213,000.00. Following the transaction, the chief executive officer now directly owns 758,738 shares in the company, valued at approximately $5,387,039.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,682 shares of company stock worth $1,353,652 over the last ninety days. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new position in shares of Recursion Pharmaceuticals during the second quarter worth $5,769,000. Capstone Investment Advisors LLC acquired a new stake in Recursion Pharmaceuticals in the first quarter valued at $161,000. Scientech Research LLC acquired a new stake in Recursion Pharmaceuticals in the second quarter valued at $1,052,000. Benjamin F. Edwards & Company Inc. raised its holdings in Recursion Pharmaceuticals by 6,439.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 169,900 shares of the company’s stock valued at $1,274,000 after acquiring an additional 167,302 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in Recursion Pharmaceuticals in the second quarter valued at $8,250,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.