Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 0.7% - Here's Why

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) fell 0.7% during mid-day trading on Wednesday . The stock traded as low as $7.35 and last traded at $7.41. 5,964,234 shares were traded during trading, a decline of 7% from the average session volume of 6,419,481 shares. The stock had previously closed at $7.46.

Analyst Ratings Changes

A number of research firms recently issued reports on RXRX. Leerink Partners dropped their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research note 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The company's fifty day moving average price is $6.67 and its two-hundred day moving average price is $7.29. The firm has a market cap of $2.14 billion, a PE ratio of -4.84 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced 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 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%. Recursion Pharmaceuticals's revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.43) EPS. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total transaction of $87,455.08. Following the completion of the transaction, the director now directly owns 7,066,113 shares of the company's stock, valued at approximately $53,985,103.32. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael Secora sold 15,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value 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. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,235 shares of company stock valued at $802,988. 15.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC raised its position in shares of Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company's stock worth $289,000 after purchasing an additional 1,795 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 2.9% in the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company's stock worth $427,000 after acquiring an additional 1,800 shares during the last quarter. Interchange Capital Partners LLC lifted its position in shares of Recursion Pharmaceuticals by 7.3% in the second quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company's stock valued at $268,000 after acquiring an additional 2,349 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Recursion Pharmaceuticals by 52.4% during the second quarter. Amalgamated Bank now owns 7,152 shares of the company's stock valued at $54,000 after acquiring an additional 2,459 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company's stock worth $164,000 after purchasing an additional 2,598 shares in the last quarter. 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.

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