Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3.2% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was down 3.2% on Thursday . The stock traded as low as $5.96 and last traded at $5.98. Approximately 3,884,146 shares changed hands during trading, a decline of 84% from the average daily volume of 25,000,162 shares. The stock had previously closed at $6.17.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RXRX shares. Leerink Partners decreased their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. KeyCorp decreased their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.25.

Recursion Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -4.15 and a beta of 0.85. 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’s 50-day simple moving average is $7.54 and its 200 day simple moving average is $7.02.

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

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc raised its stake in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock worth $2,774,000 after acquiring an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock worth $52,000 after buying an additional 1,353 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Recursion Pharmaceuticals by 4.3% during the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after buying an additional 1,795 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Recursion Pharmaceuticals by 7.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock worth $176,000 after buying an additional 1,875 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of Recursion Pharmaceuticals by 10.6% during the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after buying an additional 2,000 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

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.