Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 0.1% - What's Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s stock price was down 0.1% on Wednesday . The stock traded as low as $6.65 and last traded at $6.76. Approximately 12,067,375 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 6,933,797 shares. The stock had previously closed at $6.77.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RXRX. Leerink Partners cut their target price on shares of 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. Jefferies Financial Group cut their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three equities research 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 target price of $9.25.

Recursion Pharmaceuticals Price Performance

The stock has a market capitalization of $1.94 billion, a P/E ratio of -4.42 and a beta of 0.85. The business's 50 day simple moving average is $6.81 and its two-hundred day simple moving average is $7.09. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $26.08 million during the quarter, compared to the consensus estimate 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 was up 147.6% compared to the same quarter last year. During the same period in the previous year, the business 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

In related news, CFO Michael Secora sold 15,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $6.32, for a total transaction of $94,800.00. Following the completion of the transaction, the chief financial officer now owns 1,426,506 shares in the company, valued at approximately $9,015,517.92. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blake Borgeson sold 11,447 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the sale, the director now owns 7,089,007 shares of the company's stock, valued at $47,283,676.69. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,341 shares of company stock worth $488,290. 15.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RXRX. ARK Investment Management LLC grew its stake in Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after buying an additional 4,626,268 shares in the last quarter. State Street Corp grew its stake in Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. FMR LLC increased its holdings in Recursion Pharmaceuticals by 2.1% during the 3rd 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 during the period. Geode Capital Management LLC lifted its stake in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock worth $35,803,000 after purchasing an additional 656,003 shares in the last quarter. Finally, Lingotto Investment Management LLP grew its position in shares of Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company's stock valued at $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

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.