Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.1% Following Analyst Downgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price traded down 3.1% during mid-day trading on Thursday 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 $6.98 and last traded at $7.26. 12,980,114 shares traded hands during trading, a decline of 25% from the average session volume of 17,259,441 shares. The stock had previously closed at $7.49.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Recursion Pharmaceuticals presently has an average rating of “Hold” and an average target price of $8.75.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the sale, the director now owns 7,089,007 shares in the company, valued at $47,283,676.69. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,341 shares of company stock valued at $393,490 over the last ninety days. Corporate insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RXRX. GAMMA Investing LLC increased its stake in Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after purchasing an additional 4,948 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Recursion Pharmaceuticals by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 1,176,191 shares of the company’s stock valued at $7,751,000 after buying an additional 67,464 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Recursion Pharmaceuticals by 58.9% during the 3rd quarter. Franklin Resources Inc. now owns 18,963 shares of the company’s stock worth $127,000 after buying an additional 7,027 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter worth about $89,000. Finally, Geode Capital Management LLC grew its stake in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after acquiring an additional 656,003 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Stock Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85. The stock’s 50 day moving average is $6.93 and its 200 day moving average is $7.03.

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

Recursion Pharmaceuticals Company Profile

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.