Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 6.9% – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 6.9% during mid-day trading on Monday . The company traded as low as $6.01 and last traded at $6.14. Approximately 8,113,213 shares were traded during trading, a decline of 68% from the average daily volume of 25,409,162 shares. The stock had previously closed at $6.59.

Analyst Ratings Changes

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

Recursion Pharmaceuticals Stock Down 7.0 %

The firm’s fifty day moving average is $7.64 and its 200-day moving average is $7.07. The stock has a market capitalization of $2.40 billion, a PE ratio of -4.01 and a beta of 0.85. 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) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.60 million during the quarter, compared to analysts’ expectations of $19.04 million. During the same quarter last year, the firm earned ($0.42) earnings per share. The firm’s quarterly revenue was down 57.8% compared to the same quarter last year. On average, equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Recursion Pharmaceuticals by 176.9% during the third 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 period. QRG Capital Management Inc. purchased a new position in Recursion Pharmaceuticals in the 3rd quarter valued at approximately $120,000. Privium Fund Management B.V. boosted its position in Recursion Pharmaceuticals by 50.0% during the third quarter. Privium Fund Management B.V. now owns 78,000 shares of the company’s stock worth $514,000 after purchasing an additional 26,000 shares in the last quarter. Axxcess Wealth Management LLC grew 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 purchasing an additional 1,795 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Recursion Pharmaceuticals by 25.1% in the third quarter. Victory Capital Management Inc. now owns 27,394 shares of the company’s stock valued at $181,000 after buying an additional 5,503 shares in 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.