Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.6% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 4.6% during mid-day trading on Friday . The stock traded as low as $7.05 and last traded at $7.31. Approximately 6,023,760 shares changed hands during trading, a decline of 12% from the average daily volume of 6,855,345 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Leerink Partners decreased their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group reduced 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 note on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The company’s 50 day moving average is $6.80 and its 200 day moving average is $7.16. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85.

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

Insider Buying and Selling

In related news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total value of $123,200.00. Following the sale, the chief executive officer now owns 762,656 shares of the company’s stock, valued at approximately $4,697,960.96. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.22, for a total transaction of $71,200.34. Following the completion of the transaction, the director now directly owns 7,098,428 shares of the company’s stock, valued at $44,152,222.16. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,788 shares of company stock valued at $682,691 in the last 90 days. 15.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Recursion Pharmaceuticals by 20.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company’s stock worth $7,956,000 after acquiring an additional 178,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Recursion Pharmaceuticals by 39.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,863 shares of the company’s stock valued at $374,000 after buying an additional 14,060 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Recursion Pharmaceuticals in the 2nd quarter worth about $101,000. Commonwealth Equity Services LLC boosted its position in shares of Recursion Pharmaceuticals by 25.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock worth $332,000 after purchasing an additional 9,058 shares in the last quarter. Finally, Interchange Capital Partners LLC increased its stake in Recursion Pharmaceuticals by 7.3% during the 2nd quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company’s stock valued at $268,000 after purchasing an additional 2,349 shares in the last quarter. 89.06% of the stock is owned by 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.