Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down to $8.76

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) gapped down prior to trading on Thursday . The stock had previously closed at $8.76, but opened at $7.00. Recursion Pharmaceuticals shares last traded at $7.01, with a volume of 6,654,200 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Recursion Pharmaceuticals from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Recursion Pharmaceuticals in a research note on Tuesday.

Recursion Pharmaceuticals Stock Performance

The stock has a market cap of $1.67 billion, a PE ratio of -4.38 and a beta of 0.86. The company’s 50-day moving average price is $8.83 and its 200 day moving average price is $9.93.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Thursday, May 9th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.04. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The company had revenue of $13.80 million for the quarter, compared to the consensus estimate of $11.10 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.32, for a total value of $139,800.00. Following the completion of the sale, the chief financial officer now owns 1,243,468 shares in the company, valued at approximately $11,589,121.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $9.17, for a total value of $104,968.99. Following the completion of the transaction, the director now owns 7,186,913 shares of the company’s stock, valued at $65,903,992.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.32, for a total transaction of $139,800.00. Following the sale, the chief financial officer now directly owns 1,243,468 shares in the company, valued at $11,589,121.76. The disclosure for this sale can be found here. Insiders have sold 241,359 shares of company stock valued at $2,006,876 over the last 90 days. 15.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky boosted its holdings in Recursion Pharmaceuticals by 9.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 187,927 shares of the company’s stock valued at $1,873,000 after purchasing an additional 16,600 shares during the period. Virtu Financial LLC acquired a new stake in Recursion Pharmaceuticals in the first quarter valued at approximately $662,000. California State Teachers Retirement System lifted its stake in Recursion Pharmaceuticals by 3.2% in the first quarter. California State Teachers Retirement System now owns 154,491 shares of the company’s stock worth $1,540,000 after acquiring an additional 4,828 shares during the last quarter. Oxford Wealth Group LLC acquired a new position in Recursion Pharmaceuticals during the 1st quarter worth approximately $106,000. Finally, Carroll Investors Inc purchased a new stake in shares of Recursion Pharmaceuticals during the 1st quarter worth $138,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.