Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 3.3% Following Insider Selling

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) were down 3.3% during trading on Thursday following insider selling activity. The stock traded as low as $6.78 and last traded at $6.78. Approximately 1,108,949 shares changed hands during trading, a decline of 81% from the average daily volume of 5,763,784 shares. The stock had previously closed at $7.01.

Specifically, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the transaction, the director now owns 7,089,007 shares of the company’s stock, valued at $47,283,676.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several research analysts recently issued reports on RXRX shares. Jefferies Financial Group cut their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC cut their price objective on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. KeyCorp cut their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Leerink Partners cut their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of -4.34 and a beta of 0.80. The company has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $7.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). The firm had revenue of $14.42 million during the quarter, compared to the consensus estimate of $11.96 million. Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. On average, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current year.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Recursion Pharmaceuticals during the 1st quarter valued at $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter valued at $25,000. GAMMA Investing LLC raised its stake in shares of Recursion Pharmaceuticals by 1,588.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock valued at $48,000 after purchasing an additional 6,036 shares during the period. Amalgamated Bank increased its stake in Recursion Pharmaceuticals by 52.4% in the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after acquiring an additional 2,459 shares during the last quarter. Finally, San Luis Wealth Advisors LLC bought a new position in Recursion Pharmaceuticals in the 3rd quarter worth about $69,000. 89.06% of the stock is currently 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.