Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 5.6% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price traded down 5.6% on Wednesday . The company traded as low as $7.04 and last traded at $7.02. 8,745,283 shares changed hands during trading, a decline of 48% from the average session volume of 16,670,846 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RXRX shares. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report 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, January 8th.

Recursion Pharmaceuticals Price Performance

The stock has a 50-day simple moving average of $6.94 and a 200 day simple moving average of $6.93. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -4.68 and a beta of 0.85. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its 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). The firm had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) EPS. On average, equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the transaction, the director now owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following 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 position. The disclosure for this sale can be found here. 15.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RXRX. Allspring Global Investments Holdings LLC acquired a new position in Recursion Pharmaceuticals during the third quarter worth $25,000. Decker Retirement Planning Inc. bought a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC boosted its holdings in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after acquiring an additional 4,948 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Recursion Pharmaceuticals by 176.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after purchasing an additional 4,091 shares in the last quarter. Finally, KBC Group NV raised its position in Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after purchasing an additional 3,377 shares during 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.