Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 4.4% on Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 4.4% during mid-day trading on Wednesday after KeyCorp lowered their price target on the stock from $12.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Recursion Pharmaceuticals traded as low as $7.04 and last traded at $7.16. Approximately 4,653,415 shares traded hands during trading, a decline of 70% from the average daily volume of 15,549,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $8.75.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $6.67, for a total value of $76,351.49. Following the completion of the sale, the director now owns 7,089,007 shares of the company’s stock, valued at approximately $47,283,676.69. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,341 shares of company stock valued at $393,490 in the last quarter. 15.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in Recursion Pharmaceuticals by 25.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock worth $332,000 after acquiring an additional 9,058 shares during the period. Rhumbline Advisers boosted its stake in shares of Recursion Pharmaceuticals by 24.1% in the second quarter. Rhumbline Advisers now owns 281,348 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54,576 shares during the period. Victory Capital Management Inc. grew its holdings in Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after purchasing an additional 2,598 shares in the last quarter. Arizona State Retirement System increased its stake in Recursion Pharmaceuticals by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 47,691 shares of the company’s stock worth $358,000 after buying an additional 4,760 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Recursion Pharmaceuticals in the 2nd quarter worth $246,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Trading Down 5.2 %

The business’s 50-day simple moving average is $6.94 and its two-hundred day simple moving average is $7.01. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.69 billion, a PE ratio of -4.50 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share 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 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%. Recursion Pharmaceuticals’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. On average, analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

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.