Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 8.8% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price traded down 8.8% during mid-day trading on Wednesday . The stock traded as low as $3.71 and last traded at $3.6950. 15,342,385 shares were traded during mid-day trading, a decline of 16% from the average session volume of 18,306,123 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

RXRX has been the topic of several recent research reports. Wall Street Zen raised shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Morgan Stanley set a $5.30 price target on shares of Recursion Pharmaceuticals in a research note on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.06.

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -3.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a 50-day simple moving average of $3.29 and a two-hundred day simple moving average of $3.33.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $7.67 million for the quarter, compared to analyst estimates of $10.97 million. Recursion Pharmaceuticals had a negative return on equity of 50.41% and a negative net margin of 945.94%.During the same period in the prior year, the company posted ($0.41) EPS. On average, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $3.96, for a total transaction of $158,400.00. Following the sale, the director owned 6,218,287 shares in the company, valued at $24,624,416.52. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Najat Khan sold 22,408 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total value of $78,876.16. Following the completion of the sale, the chief executive officer directly owned 2,072,890 shares in the company, valued at $7,296,572.80. This represents a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 122,408 shares of company stock valued at $434,976 in the last three months. 6.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. MCF Advisors LLC purchased a new position in Recursion Pharmaceuticals in the second quarter valued at approximately $27,000. WINTON GROUP Ltd boosted its stake in Recursion Pharmaceuticals by 85.2% in the second quarter. WINTON GROUP Ltd now owns 192,800 shares of the company’s stock valued at $708,000 after acquiring an additional 88,700 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Recursion Pharmaceuticals by 85.8% during the second quarter. Squarepoint Ops LLC now owns 98,426 shares of the company’s stock worth $361,000 after purchasing an additional 45,438 shares during the last quarter. Arizona State Retirement System increased its position in shares of Recursion Pharmaceuticals by 6.5% during the second quarter. Arizona State Retirement System now owns 129,619 shares of the company’s stock worth $476,000 after purchasing an additional 7,913 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new stake in shares of Recursion Pharmaceuticals in the 2nd quarter valued at about $189,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biotechnology company that uses artificial intelligence, automation, and large-scale biological experimentation to accelerate the discovery and development of medicines. Its technology platform, known as the Recursion Operating System, integrates data from biology, chemistry, imaging, and machine learning to identify potential drug candidates and better understand disease biology.

The company develops therapies for areas including oncology, rare diseases, and neurological disorders.