Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 5.1% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $4.62 and last traded at $4.66. Approximately 22,462,030 shares changed hands during mid-day trading, an increase of 61% from the average daily volume of 13,988,351 shares. The stock had previously closed at $4.91.

Wall Street Analyst Weigh In

RXRX has been the topic of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Needham & Company LLC lowered their target price on shares of Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Leerink Partners lowered their price objective on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals presently has an average rating of “Hold” and an average price target of $7.60.

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $2.23 billion, a PE ratio of -3.59 and a beta of 0.84. The business’s 50-day moving average is $4.81 and its 200-day moving average is $6.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). The firm had revenue of $14.75 million during the quarter, compared to analysts’ expectations of $18.12 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted ($0.39) earnings per share. On average, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Private Trust Co. NA purchased a new position in Recursion Pharmaceuticals in the fourth quarter worth about $27,000. AlphaQuest LLC purchased a new position in shares of Recursion Pharmaceuticals during the first quarter valued at approximately $36,000. GAMMA Investing LLC raised its holdings in shares of Recursion Pharmaceuticals by 39.0% during the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company’s stock valued at $38,000 after purchasing an additional 2,026 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 43.7% during the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company’s stock valued at $53,000 after purchasing an additional 2,387 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.