Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 4.4% on Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price was down 4.4% on Wednesday after KeyCorp lowered their price target on the stock from $12.00 to $10.00. KeyCorp currently has an overweight rating on the stock. Recursion Pharmaceuticals traded as low as $7.04 and last traded at $7.16. Approximately 4,653,415 shares traded hands during trading, a decline of 70% from the average daily volume of 15,549,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective 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 given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.75.

Insiders Place Their Bets

In related news, COO Tina Marriott sold 6,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at approximately $3,288,380.78. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $6.67, for a total value of $76,351.49. Following the transaction, the director now directly owns 7,089,007 shares in the company, valued at approximately $47,283,676.69. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,341 shares of company stock worth $393,490 over the last ninety days. 15.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RXRX. Axxcess Wealth Management LLC grew its stake in shares of Recursion Pharmaceuticals by 4.3% in the 3rd 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 in the last quarter. Green Alpha Advisors LLC raised its holdings in Recursion Pharmaceuticals by 2.9% during the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock valued at $427,000 after buying an additional 1,800 shares in the last quarter. Amalgamated Bank lifted its position in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after buying an additional 2,459 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock worth $164,000 after acquiring an additional 2,598 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Recursion Pharmaceuticals by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,530 shares of the company’s stock valued at $346,000 after acquiring an additional 2,667 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Recursion Pharmaceuticals Price Performance

The stock has a 50 day moving average of $6.94 and a two-hundred day moving average of $7.01. 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 has a market capitalization of $2.69 billion, a P/E ratio of -4.50 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals’s quarterly revenue was up 147.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.43) earnings per share. Sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

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.