Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 2.4%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares dropped 2.4% on Wednesday . The company traded as low as $7.21 and last traded at $7.26. Approximately 1,058,162 shares changed hands during trading, a decline of 83% from the average daily volume of 6,156,535 shares. The stock had previously closed at $7.44.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Recursion Pharmaceuticals in a report on Tuesday, June 25th.

Recursion Pharmaceuticals Stock Down 3.5 %

The company has a market cap of $1.71 billion, a price-to-earnings ratio of -4.54 and a beta of 0.83. The stock has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $9.83.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Thursday, May 9th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.04. The firm had revenue of $13.80 million during the quarter, compared to the consensus estimate of $11.10 million. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. Analysts predict that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other news, COO Tina Marriott sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.78, for a total transaction of $26,340.00. Following the sale, the chief operating officer now directly owns 535,457 shares in the company, valued at $4,701,312.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $7.66, for a total value of $87,684.02. Following the transaction, the director now directly owns 7,229,861 shares of the company’s stock, valued at $55,380,735.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Tina Marriott sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $8.78, for a total value of $26,340.00. Following the completion of the transaction, the chief operating officer now directly owns 535,457 shares in the company, valued at $4,701,312.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,359 shares of company stock worth $1,704,435. Insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently modified their holdings of RXRX. ARK Investment Management LLC raised its position in shares of Recursion Pharmaceuticals by 200.4% during the fourth quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company’s stock worth $203,651,000 after purchasing an additional 13,777,689 shares during the period. Mubadala Investment Co PJSC bought a new position in Recursion Pharmaceuticals during the 4th quarter valued at $128,041,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Recursion Pharmaceuticals by 161.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,203,780 shares of the company’s stock valued at $90,749,000 after acquiring an additional 5,680,656 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Recursion Pharmaceuticals by 161.2% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock valued at $90,565,000 after acquiring an additional 5,680,656 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Recursion Pharmaceuticals by 37.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock valued at $118,627,000 after acquiring an additional 4,247,002 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.