Recursion Pharmaceuticals (NASDAQ:RXRX) Reaches New 52-Week Low – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.84 and last traded at $5.93, with a volume of 1322230 shares trading hands. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

RXRX has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price target on 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 reaffirmed a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday. Finally, Leerink Partners decreased 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 research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Trading Down 3.7 %

The stock’s fifty day moving average price is $6.65 and its 200 day moving average price is $7.54. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS 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 business had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same period in the previous year, the firm earned ($0.43) EPS. The company’s revenue was up 147.6% on a year-over-year basis. As a group, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total transaction of $45,360.00. Following the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,939,803.28. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.27, for a total value of $71,772.69. Following the completion of the transaction, the director now owns 7,121,322 shares of the company’s stock, valued at $44,650,688.94. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,682 shares of company stock valued at $1,133,471 in the last 90 days. Corporate insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 16.4% in the 3rd 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 during the last quarter. Baillie Gifford & Co. grew its stake in shares of Recursion Pharmaceuticals by 10.5% during the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock valued at $199,425,000 after purchasing an additional 2,522,132 shares during the period. Vanguard Group Inc. increased its position in shares of Recursion Pharmaceuticals by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock valued at $159,667,000 after purchasing an additional 349,554 shares during the last quarter. State Street Corp increased its position in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Finally, Kinnevik AB publ grew its position in Recursion Pharmaceuticals by 14.4% during the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after buying an additional 1,500,000 shares during the period. Hedge funds and other institutional investors 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.