Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 4.3% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) were down 4.3% on Friday . The stock traded as low as $6.78 and last traded at $6.95. Approximately 5,451,801 shares were traded during mid-day 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

RXRX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. KeyCorp cut their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of “Hold” and an average price target of $8.75.

Recursion Pharmaceuticals Trading Down 5.2 %

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 has a 50 day moving average price of $6.94 and a 200-day moving average price of $6.99. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -4.50 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted ($0.43) EPS. The company’s revenue for the quarter was up 147.6% on a year-over-year basis. As a group, research analysts expect 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 stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $6.67, for a total transaction of $76,351.49. Following the sale, the director now owns 7,089,007 shares in the company, valued at $47,283,676.69. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,341 shares of company stock valued at $393,490. Insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RXRX. ARK Investment Management LLC raised its holdings in 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 in the last quarter. State Street Corp raised its position 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 worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. FMR LLC increased its stake in Recursion Pharmaceuticals by 2.1% in the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Recursion Pharmaceuticals by 13.7% in the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after acquiring an additional 656,003 shares in the last quarter. Finally, Lingotto Investment Management LLP grew its position in Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. 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.