Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 5.5% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) fell 5.5% on Tuesday . The company traded as low as $6.95 and last traded at $7.03. 5,334,303 shares were traded during mid-day trading, a decline of 18% from the average session volume of 6,541,350 shares. The stock had previously closed at $7.44.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RXRX. Jefferies Financial Group decreased their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Leerink Partners decreased their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $2.04 billion, a PE ratio of -4.59 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The company has a 50 day moving average price of $6.76 and a 200 day moving average price of $7.24.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share (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 firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same quarter last year, the business earned ($0.43) earnings per share. The business’s revenue for the quarter was up 147.6% compared to the same quarter last year. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $7.00, for a total value of $42,000.00. Following the sale, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at $3,647,966. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was 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 $4,697,960.96. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,788 shares of company stock worth $724,691 over the last ninety days. 15.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Recursion Pharmaceuticals during the third quarter valued at $25,000. Farther Finance Advisors LLC increased its holdings in shares of Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after purchasing an additional 4,091 shares during the period. Amalgamated Bank increased its holdings in shares of Recursion Pharmaceuticals by 52.4% during the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares during the period. KBC Group NV increased its holdings in shares of Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after purchasing an additional 3,377 shares during the period. Finally, San Luis Wealth Advisors LLC acquired a new position in shares of Recursion Pharmaceuticals during the third quarter valued at $69,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.