Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.3% – Here’s Why

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 4.3% during mid-day trading on Friday . The stock traded as low as $6.78 and last traded at $6.95. Approximately 5,451,801 shares were traded during trading, a decline of 64% from the average daily volume of 15,227,077 shares. The stock had previously closed at $7.26.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RXRX shares. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. KeyCorp reduced their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.75.

Recursion Pharmaceuticals Stock Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $6.94 and its 200 day moving average price is $6.99. The stock 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 business had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same period in the previous year, the business posted ($0.43) EPS. The company’s revenue for the quarter was up 147.6% compared to the same quarter last year. Analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the company’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 completion of the sale, the director now directly owns 7,066,113 shares of the company’s stock, valued at $53,985,103.32. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,341 shares of company stock valued at $393,490. 15.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RXRX. ARK Investment Management LLC raised its stake in shares of Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. State Street Corp grew its stake in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. FMR LLC increased its holdings in 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 buying an additional 170,810 shares in the last quarter. Geode Capital Management LLC increased its stake in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after purchasing an additional 656,003 shares in the last quarter. Finally, Lingotto Investment Management LLP increased its position 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 valued at $27,563,000 after buying an additional 1,500,000 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other 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.