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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was 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 mid-day 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 reissued a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Recursion Pharmaceuticals presently has an average rating of “Hold” and an average target price of $8.75.

Insider Activity

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the company’s 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 owns 521,138 shares in the company, valued at $3,288,380.78. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,341 shares of company stock valued at $393,490 over the last quarter. Company insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RXRX. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp raised its holdings in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after buying an additional 4,120,685 shares during the last quarter. FMR LLC raised its holdings in shares of Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after buying an additional 170,810 shares during the last quarter. Geode Capital Management LLC boosted its position in Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after acquiring an additional 656,003 shares during the period. Finally, Lingotto Investment Management LLP grew its stake in shares of Recursion Pharmaceuticals by 69.0% in the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Price Performance

The business has a fifty day moving average price of $6.94 and a 200 day moving average price of $7.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -4.50 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data 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 company had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same quarter last year, the company posted ($0.43) EPS. Recursion Pharmaceuticals’s revenue was up 147.6% on a year-over-year basis. On average, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

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.