Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.6% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares dropped 4.6% during trading on Friday . The stock traded as low as $7.05 and last traded at $7.31. Approximately 6,023,760 shares traded hands during trading, a decline of 12% from the average daily volume of 6,855,345 shares. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

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

Recursion Pharmaceuticals Trading Down 3.5 %

The company has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $7.14. 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 firm has a market cap of $2.12 billion, a PE ratio of -4.83 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same quarter in the prior year, the company earned ($0.43) EPS. Recursion Pharmaceuticals’s quarterly revenue was up 147.6% on a year-over-year basis. Analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total value of $87,455.08. Following the sale, the director now directly owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,788 shares of company stock worth $682,691 over the last three months. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after buying an additional 288,926 shares in the last quarter. FMR LLC lifted its position in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after acquiring an additional 170,810 shares in the last quarter. State Street Corp boosted its stake in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Recursion Pharmaceuticals by 13.7% during the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after purchasing an additional 656,003 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new position in Recursion Pharmaceuticals in the 2nd quarter valued at $5,769,000. 89.06% of the stock is currently 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.