Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 1.3% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $5.98 and last traded at $5.98. Approximately 5,272,832 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 25,186,756 shares. The stock had previously closed at $6.06.

Wall Street Analysts Forecast Growth

RXRX has been the topic of several recent analyst reports. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. KeyCorp lowered their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Leerink Partners cut their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.25.

Recursion Pharmaceuticals Price Performance

The firm has a market cap of $2.51 billion, a P/E ratio of -4.08 and a beta of 0.85. The firm’s fifty day simple moving average is $7.61 and its 200 day simple moving average is $7.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The firm had revenue of $4.60 million for the quarter, compared to the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals’s quarterly revenue was down 57.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) earnings per share. As a group, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Decker Retirement Planning Inc. bought a new position in Recursion Pharmaceuticals during the fourth quarter valued at $26,000. Private Trust Co. NA purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $27,000. GAMMA Investing LLC lifted its holdings in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after acquiring an additional 4,948 shares during the last quarter. Farther Finance Advisors LLC grew its position in Recursion Pharmaceuticals by 176.9% in the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after acquiring an additional 4,091 shares in the last quarter. Finally, KBC Group NV increased its stake in Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after acquiring an additional 3,377 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.