Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 5.1% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price was down 5.1% during trading on Tuesday . The company traded as low as $6.15 and last traded at $6.25. Approximately 11,376,722 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 25,701,658 shares. The stock had previously closed at $6.59.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RXRX. KeyCorp cut their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Cowen reiterated a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Leerink Partners dropped their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a research report on Friday, February 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.25.

Recursion Pharmaceuticals Trading Up 5.6 %

The firm has a market cap of $2.57 billion, a PE ratio of -4.31 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. The company has a 50-day simple moving average of $7.65 and a 200 day simple moving average of $7.08.

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Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $4.60 million for the quarter, compared to analysts' expectations of $19.04 million. During the same quarter last year, the business earned ($0.42) EPS. The company's quarterly revenue was down 57.8% on a year-over-year basis. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc raised its position in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company's stock valued at $2,774,000 after buying an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock valued at $52,000 after acquiring an additional 1,353 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Recursion Pharmaceuticals by 4.3% in 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 in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Recursion Pharmaceuticals by 7.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company's stock worth $176,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of Recursion Pharmaceuticals by 10.6% in the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company's stock valued at $144,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

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.