Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.1% Following Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 3.1% during trading on Thursday after KeyCorp lowered their price target on the stock from $12.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Recursion Pharmaceuticals traded as low as $6.98 and last traded at $7.26. Approximately 12,980,114 shares were traded during trading, a decline of 25% from the average daily volume of 17,259,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.75.

Insider Buying and Selling

In other news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $6.31, for a total value of $37,860.00. Following the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,288,380.78. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,341 shares of company stock worth $393,490 over the last three months. 15.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in Recursion Pharmaceuticals by 1,979.2% during the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after purchasing an additional 4,948 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Recursion Pharmaceuticals by 176.9% in the 3rd 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. KBC Group NV grew 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 buying an additional 3,377 shares in the last quarter. Finally, Amalgamated Bank increased its position in 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 buying an additional 2,459 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Down 3.1 %

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 stock has a fifty day moving average price of $6.91 and a two-hundred day moving average price of $7.02. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its 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 business had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. As a group, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

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.