Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price gapped down prior to trading 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 changing hands.

Analyst Ratings Changes

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

Recursion Pharmaceuticals Stock Down 6.7 %

The stock has a market capitalization of $2.56 billion, a P/E ratio of -4.16 and a beta of 0.85. 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 firm’s 50-day simple moving average is $7.52 and its 200 day simple moving average is $7.01.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its 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 firm had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals’s quarterly revenue was down 57.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) earnings per share. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Institutional Trading of Recursion Pharmaceuticals

Large investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc lifted its position in Recursion Pharmaceuticals by 0.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock worth $2,774,000 after purchasing an additional 1,300 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Recursion Pharmaceuticals by 7.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock worth $176,000 after purchasing an additional 1,875 shares during the last quarter. Wedmont Private Capital lifted its holdings in Recursion Pharmaceuticals by 10.6% during the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after buying an additional 2,000 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Recursion Pharmaceuticals by 28.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,135 shares of the company’s stock valued at $69,000 after buying an additional 2,235 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.