Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 1.3% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $7.97 and last traded at $8.24. Approximately 8,988,098 shares were traded during trading, a decline of 65% from the average daily volume of 25,388,480 shares. The stock had previously closed at $8.34.

Wall Street Analyst Weigh In

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

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $2.93 billion, a P/E ratio of -4.91 and a beta of 0.86. The business has a 50 day moving average price of $7.72 and a two-hundred day moving average price of $7.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data 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). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. The business’s revenue for the quarter was down 57.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Recursion Pharmaceuticals during the third quarter valued at about $25,000. Decker Retirement Planning Inc. bought a new position in Recursion Pharmaceuticals during the 4th quarter valued at approximately $26,000. Private Trust Co. NA purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after buying an additional 4,948 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after buying an additional 4,091 shares during the last quarter. Hedge funds and other 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.