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

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $6.84, but opened at $6.58. Recursion Pharmaceuticals shares last traded at $6.36, with a volume of 3,223,158 shares.

Wall Street Analyst Weigh In

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

Recursion Pharmaceuticals Trading Up 3.1 %

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -4.37 and a beta of 0.85. The business's fifty day simple moving average is $7.47 and its 200 day simple moving average is $7.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

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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) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $19.04 million. During the same period last year, the firm posted ($0.42) earnings per share. The company's quarterly revenue was down 57.8% on a year-over-year basis. On average, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company's stock worth $12,789,000 after buying an additional 288,926 shares in the last quarter. Accel Wealth Management bought a new stake in Recursion Pharmaceuticals in the fourth quarter worth about $310,000. FMR LLC raised its position in Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock worth $55,116,000 after acquiring an additional 170,810 shares in the last quarter. Avanza Fonder AB bought a new stake in Recursion Pharmaceuticals in the fourth quarter worth about $580,000. Finally, State Street Corp raised its position in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock worth $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. 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.