Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 1.1% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 1.1% during trading on Tuesday . The stock traded as low as $5.88 and last traded at $6.06. Approximately 5,260,868 shares changed hands during trading, a decline of 79% from the average daily volume of 25,323,674 shares. The stock had previously closed at $6.13.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RXRX. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Leerink Partners cut 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, KeyCorp decreased their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -3.96 and a beta of 0.85. The business’s 50 day moving average is $7.62 and its 200 day moving average is $7.06.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The business had revenue of $4.60 million for the quarter, compared to analyst estimates of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company’s revenue was down 57.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) earnings per share. Equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Softbank Group CORP. acquired a new stake in Recursion Pharmaceuticals during the fourth quarter valued at $99,152,000. Novo Holdings A S purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth about $68,375,000. Vanguard Group Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock valued at $229,908,000 after buying an additional 9,737,196 shares during the last quarter. State Street Corp grew its stake in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after buying an additional 4,120,685 shares in the last quarter. Finally, Norges Bank acquired a new position in Recursion Pharmaceuticals in the fourth quarter worth approximately $23,429,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.