Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 3.1% Following Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) dropped 3.1% during mid-day trading on Thursday 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 $6.98 and last traded at $7.26. Approximately 12,980,114 shares changed hands during trading, a decline of 25% from the average daily volume of 17,259,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals has a consensus rating of "Hold" and an average target price of $8.75.

Insider Transactions at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the transaction, the director now directly owns 7,089,007 shares in the company, valued at $47,283,676.69. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Secora sold 15,000 shares of the firm's stock in a transaction 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 transaction, the chief financial officer now owns 1,499,631 shares of the company's stock, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,341 shares of company stock worth $393,490. 15.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently bought and sold shares of RXRX. Allspring Global Investments Holdings LLC purchased a new stake in Recursion Pharmaceuticals during the third quarter worth about $25,000. GAMMA Investing LLC increased its stake in Recursion Pharmaceuticals by 1,979.2% during the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock worth $35,000 after buying an additional 4,948 shares during the period. Farther Finance Advisors LLC lifted 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 worth $42,000 after buying an additional 4,091 shares in the last quarter. Amalgamated Bank boosted its position in Recursion Pharmaceuticals by 52.4% in the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company's stock valued at $54,000 after buying an additional 2,459 shares during the period. Finally, KBC Group NV boosted 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 buying an additional 3,377 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Recursion Pharmaceuticals Trading Down 3.1 %

The company's 50 day simple moving average is $6.93 and its 200 day simple moving average is $7.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company's revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.43) earnings per share. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Recursion Pharmaceuticals Company Profile

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.