Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 3.4% – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares dropped 3.4% during mid-day trading on Wednesday . The stock traded as low as $6.81 and last traded at $6.88. Approximately 4,370,890 shares traded hands during trading, a decline of 33% from the average daily volume of 6,568,276 shares. The stock had previously closed at $7.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Leerink Partners cut their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group decreased their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Trading Down 5.6 %

The company has a market cap of $1.93 billion, a price-to-earnings ratio of -4.39 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 business’s fifty day simple moving average is $6.77 and its two-hundred day simple moving average is $7.23.

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 business had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business’s revenue was up 147.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.43) earnings per share. On average, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the transaction, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,788 shares of company stock worth $724,691 over the last quarter. 15.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RXRX. ARK Investment Management LLC lifted its position in Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. State Street Corp raised its holdings in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after buying an additional 4,120,685 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Recursion Pharmaceuticals by 10.5% in the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after buying an additional 2,522,132 shares in the last quarter. Lingotto Investment Management LLP increased its position in Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after acquiring an additional 1,500,000 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new position in Recursion Pharmaceuticals during the 2nd quarter worth $8,250,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.