Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 0.9% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s stock price traded down 0.9% during trading on Wednesday . The stock traded as low as $6.39 and last traded at $6.55. 974,966 shares changed hands during trading, a decline of 83% from the average session volume of 5,726,458 shares. The stock had previously closed at $6.61.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RXRX. Jefferies Financial Group cut their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC decreased their target price on Recursion Pharmaceuticals from $16.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. KeyCorp dropped their target price on Recursion Pharmaceuticals from $16.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, July 11th. Finally, Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating for the company in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The firm has a fifty day moving average of $6.73 and a 200 day moving average of $7.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -3.94 and a beta of 0.80.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $11.96 million. During the same period in the previous year, the business earned ($0.38) EPS. Recursion Pharmaceuticals's revenue for the quarter was up 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other news, COO Tina Marriott sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $8.13, for a total transaction of $48,780.00. Following the sale, the chief operating officer now directly owns 535,457 shares of the company's stock, valued at $4,353,265.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Tina Marriott sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $8.13, for a total transaction of $48,780.00. Following the completion of the transaction, the chief operating officer now directly owns 535,457 shares of the company's stock, valued at $4,353,265.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the transaction, the chief executive officer now owns 762,656 shares in the company, valued at $4,606,442.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,682 shares of company stock worth $1,332,933. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RXRX. Benjamin F. Edwards & Company Inc. purchased a new stake in Recursion Pharmaceuticals during the 1st quarter worth approximately $26,000. Allspring Global Investments Holdings LLC acquired a new position in Recursion Pharmaceuticals in the 3rd quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in Recursion Pharmaceuticals by 1,588.4% in the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company's stock valued at $48,000 after purchasing an additional 6,036 shares in the last quarter. Amalgamated Bank boosted its stake in Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company's stock worth $54,000 after purchasing an additional 2,459 shares during the last quarter. Finally, San Luis Wealth Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals during the third quarter worth $69,000. Institutional investors and hedge funds own 89.06% of the company's stock.

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.