Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 5.8%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX – Get Rating) shares were down 5.8% on Wednesday . The stock traded as low as $8.68 and last traded at $8.71. Approximately 885,937 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,365,067 shares. The stock had previously closed at $9.25.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RXRX shares. Morgan Stanley started coverage on Recursion Pharmaceuticals in a report on Monday. They issued an “equal weight” rating and a $8.00 price target for the company. Needham & Company LLC began coverage on Recursion Pharmaceuticals in a research report on Thursday, March 16th. They issued a “buy” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $12.40.

Recursion Pharmaceuticals Stock Down 3.3 %

The stock has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $7.75. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -6.28 and a beta of -0.43.

Recursion Pharmaceuticals (NASDAQ:RXRX – Get Rating) last released its quarterly earnings results on Monday, May 8th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $12.13 million for the quarter, compared to analysts’ expectations of $15.93 million. Recursion Pharmaceuticals had a negative return on equity of 57.15% and a negative net margin of 533.45%. As a group, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.41 EPS for the current year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, major shareholder Mubadala Investment Co Pjsc purchased 52,500 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were purchased at an average price of $7.69 per share, for a total transaction of $403,725.00. Following the completion of the transaction, the insider now owns 12,869,423 shares in the company, valued at approximately $98,965,862.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Mubadala Investment Co Pjsc acquired 52,500 shares of the stock in a transaction on Monday, February 27th. The shares were purchased at an average cost of $7.69 per share, for a total transaction of $403,725.00. Following the transaction, the insider now owns 12,869,423 shares in the company, valued at approximately $98,965,862.87. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Gibson sold 33,073 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $4.71, for a total transaction of $155,773.83. Following the transaction, the chief executive officer now owns 953,225 shares in the company, valued at $4,489,689.75. The disclosure for this sale can be found here. Insiders have sold a total of 180,215 shares of company stock valued at $1,258,288 over the last quarter. Corporate insiders own 22.25% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RXRX. Accel Wealth Management purchased a new position in shares of Recursion Pharmaceuticals during the 1st quarter valued at $41,000. CWM LLC lifted its stake in shares of Recursion Pharmaceuticals by 1,888.7% in the 1st quarter. CWM LLC now owns 6,145 shares of the company’s stock valued at $41,000 after purchasing an additional 5,836 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Recursion Pharmaceuticals by 1,029.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,903 shares of the company’s stock valued at $53,000 after purchasing an additional 6,292 shares during the last quarter. Amundi lifted its stake in shares of Recursion Pharmaceuticals by 69.6% in the 4th quarter. Amundi now owns 7,189 shares of the company’s stock valued at $57,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Recursion Pharmaceuticals by 23.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,319 shares of the company’s stock valued at $77,000 after purchasing an additional 1,378 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

About Recursion Pharmaceuticals

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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 IIa clinical trial to treat cerebral cavernous malformation; REC-2282 for the treatment of neurofibromatosis type 2; REC-4881 to treat familial adenomatous polyposis; and REC-3599, which is in Phase I clinical trial to treat GM2 gangliosidosis.