Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 6.9% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) dropped 6.9% during trading on Monday . The company traded as low as $6.01 and last traded at $6.14. Approximately 8,113,213 shares changed hands during trading, a decline of 68% from the average daily volume of 25,409,162 shares. The stock had previously closed at $6.59.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RXRX. KeyCorp decreased their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Finally, Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.25.

Recursion Pharmaceuticals Trading Down 4.8 %

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 stock has a 50 day moving average of $7.60 and a 200 day moving average of $7.04. The firm has a market cap of $2.36 billion, a P/E ratio of -3.86 and a beta of 0.85.

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

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in RXRX. Ensign Peak Advisors Inc increased its position in Recursion Pharmaceuticals by 0.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company's stock valued at $2,774,000 after purchasing an additional 1,300 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 21.1% during the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after acquiring an additional 1,353 shares during the period. Axxcess Wealth Management LLC raised its position in shares of 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 acquiring an additional 1,795 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Recursion Pharmaceuticals by 7.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company's stock valued at $176,000 after purchasing an additional 1,875 shares during the period. Finally, Wedmont Private Capital boosted its position in shares of Recursion Pharmaceuticals by 10.6% during 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.

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.