Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.1% – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price dropped 3.1% during trading on Thursday . The stock traded as low as $5.81 and last traded at $5.85. Approximately 1,291,507 shares traded hands during trading, a decline of 78% from the average daily volume of 5,819,204 shares. The stock had previously closed at $6.04.

Analysts Set New Price Targets

RXRX has been the subject of several recent research reports. Leerink Partners lowered their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, September 3rd. Jefferies Financial Group lowered their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Price Performance

The stock’s 50-day moving average is $6.62 and its 200-day moving average is $7.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business’s quarterly revenue was up 147.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. Equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.27, for a total transaction of $71,772.69. Following the completion of the transaction, the director now owns 7,121,322 shares in the company, valued at approximately $44,650,688.94. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $7.56, for a total transaction of $45,360.00. Following the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at approximately $3,939,803.28. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,682 shares of company stock worth $1,133,471. Corporate insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC purchased a new stake in Recursion Pharmaceuticals during the second quarter valued at about $5,769,000. Pier 88 Investment Partners LLC lifted its position in shares of Recursion Pharmaceuticals by 442.1% in the third quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company’s stock worth $882,000 after purchasing an additional 109,210 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Recursion Pharmaceuticals by 6,439.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 169,900 shares of the company’s stock worth $1,274,000 after purchasing an additional 167,302 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $1,052,000. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $8,250,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.