Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 7.6% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares were down 7.6% during trading on Monday . The company traded as low as $6.72 and last traded at $6.83. Approximately 5,774,679 shares were traded during trading, a decline of 16% from the average daily volume of 6,880,626 shares. The stock had previously closed at $7.39.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RXRX. Leerink Partners decreased their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group decreased their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a "buy" rating and issued 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.25.

Recursion Pharmaceuticals Stock Down 8.4 %

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $6.81 and a two-hundred day simple moving average of $7.13. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.42 and a beta of 0.85.

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 analysts' consensus estimates of ($0.33) by ($0.01). The company 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%. The business's revenue was up 147.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. Equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 20,000 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the transaction, the chief executive officer now directly owns 762,656 shares of the company's stock, valued at approximately $4,697,960.96. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.22, for a total transaction of $71,200.34. Following the sale, the director now directly owns 7,098,428 shares in the company, valued at $44,152,222.16. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,788 shares of company stock valued at $682,691 in the last ninety days. Insiders own 15.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RXRX. Axxcess Wealth Management LLC lifted its holdings in Recursion Pharmaceuticals by 4.3% in the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company's stock valued at $289,000 after buying an additional 1,795 shares during the period. Green Alpha Advisors LLC lifted its stake in shares of Recursion Pharmaceuticals by 2.9% in the 3rd quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company's stock valued at $427,000 after purchasing an additional 1,800 shares during the period. Interchange Capital Partners LLC boosted its position in shares of Recursion Pharmaceuticals by 7.3% in the 2nd quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company's stock worth $268,000 after purchasing an additional 2,349 shares during the last quarter. Amalgamated Bank increased its holdings in Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company's stock valued at $54,000 after purchasing an additional 2,459 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Recursion Pharmaceuticals by 13.5% in the second quarter. Victory Capital Management Inc. now owns 21,891 shares of the company's stock valued at $164,000 after buying an additional 2,598 shares during the period. 89.06% of the stock is currently 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.