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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price was down 3.1% during mid-day 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 mid-day trading, a decline of 78% from the average daily volume of 5,819,204 shares. The stock had previously closed at $6.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RXRX shares. Leerink Partners lowered their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Three investment 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, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Price Performance

The company’s 50 day moving average is $6.65 and its two-hundred day moving average is $7.54. 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 posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share 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 the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.43) EPS. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.27, for a total value of $71,772.69. Following the sale, the director now directly owns 7,121,322 shares of the company’s stock, valued at approximately $44,650,688.94. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $6.04, for a total value of $120,800.00. Following the sale, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at approximately $4,606,442.24. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,682 shares of company stock worth $1,133,471 over the last ninety days. 15.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in Recursion Pharmaceuticals during the first quarter worth $310,000. Russell Investments Group Ltd. raised its position in shares of Recursion Pharmaceuticals by 45.2% in the first quarter. Russell Investments Group Ltd. now owns 158,305 shares of the company’s stock worth $1,578,000 after buying an additional 49,292 shares in the last quarter. ProShare Advisors LLC boosted its stake in Recursion Pharmaceuticals by 14.1% during the first quarter. ProShare Advisors LLC now owns 40,949 shares of the company’s stock valued at $408,000 after buying an additional 5,051 shares during the period. Vanguard Group Inc. increased its stake in Recursion Pharmaceuticals by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock worth $159,667,000 after acquiring an additional 349,554 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Recursion Pharmaceuticals in the 1st quarter valued at about $350,000. 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.