Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Falls 6.4% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 6.4% on Monday. The stock traded as low as $4.08 and last traded at $4.0820. Approximately 7,201,849 shares were traded during trading, a decline of 62% from the average session volume of 19,100,949 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

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

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $2.06 billion, a PE ratio of -3.69 and a beta of 1.04. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $3.40.

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 analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $7.67 million for the quarter, compared to analyst estimates of $10.97 million. Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. During the same quarter in the previous year, the company posted ($0.41) EPS. As a group, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Blake Borgeson sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $4.84, for a total value of $242,000.00. Following the transaction, the director directly owned 6,108,287 shares of the company’s stock, valued at $29,564,109.08. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $5.00, for a total value of $125,000.00. Following the completion of the transaction, the director directly owned 162,156 shares in the company, valued at approximately $810,780. The trade was a 13.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 157,408 shares of company stock valued at $643,576 over the last ninety days. 6.65% of the stock is currently owned by insiders.

Institutional Trading of Recursion Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 2nd quarter valued at $27,000. Fund Advisors of America Inc FL acquired a new stake in shares of Recursion Pharmaceuticals in the second quarter worth $45,000. Integral Investment Advisors Inc. acquired a new stake in shares of Recursion Pharmaceuticals in the first quarter worth $39,000. MQS Management LLC purchased a new position in shares of Recursion Pharmaceuticals during the first quarter worth $41,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 51.5% during the first quarter. Sequoia Financial Advisors LLC now owns 15,162 shares of the company’s stock worth $47,000 after purchasing an additional 5,156 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc is a clinical-stage biotechnology company that uses biology, chemistry, automation and machine learning to discover and develop new medicines. The company’s technology platform is designed to generate and analyze large volumes of biological and chemical data, helping researchers identify potential drug candidates and better understand disease mechanisms.

Recursion has focused its research and development activities on areas including oncology, rare diseases and neuroscience.