Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 7% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price dropped 7% on Monday . The company traded as low as $3.22 and last traded at $3.2550. Approximately 7,378,720 shares changed hands during trading, a decline of 59% from the average session volume of 18,182,264 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RXRX. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Recursion Pharmaceuticals from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley set a $5.30 price target on Recursion Pharmaceuticals in a research report on Monday, August 17th. Wall Street Zen cut Recursion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reissued 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.06.

Recursion Pharmaceuticals Trading Down 7.0%

The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -3.13 and a beta of 1.03. The business’s 50 day moving average price is $3.30 and its 200-day moving average price is $3.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. The firm had revenue of $7.67 million during the quarter, compared to analyst estimates of $10.97 million. During the same quarter in the previous year, the business earned ($0.41) EPS. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Najat Khan sold 23,588 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $3.58, for a total value of $84,445.04. Following the sale, the chief executive officer directly owned 2,175,796 shares in the company, valued at $7,789,349.68. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, Director Blake Borgeson sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $3.96, for a total value of $158,400.00. Following the transaction, the director directly owned 6,218,287 shares in the company, valued at $24,624,416.52. This represents a 0.64% 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. Over the last three months, insiders have sold 131,937 shares of company stock valued at $478,874. Company insiders own 6.65% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in shares of Recursion Pharmaceuticals by 28.1% in the 2nd quarter. NewEdge Advisors LLC now owns 11,061 shares of the company’s stock valued at $56,000 after purchasing an additional 2,428 shares in the last quarter. Equitable Holdings Inc. boosted its holdings in Recursion Pharmaceuticals by 7.1% during the third quarter. Equitable Holdings Inc. now owns 39,400 shares of the company’s stock worth $192,000 after buying an additional 2,600 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Recursion Pharmaceuticals by 1.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 232,370 shares of the company’s stock worth $954,000 after buying an additional 2,753 shares during the period. Daiwa Securities Group Inc. grew its position in Recursion Pharmaceuticals by 29.3% during the second quarter. Daiwa Securities Group Inc. now owns 12,706 shares of the company’s stock worth $64,000 after buying an additional 2,883 shares during the period. Finally, Ascent Wealth Partners LLC increased its holdings in Recursion Pharmaceuticals by 11.8% in the first quarter. Ascent Wealth Partners LLC now owns 28,081 shares of the company’s stock valued at $86,000 after buying an additional 2,974 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biopharmaceutical company that combines advanced automation, artificial intelligence and high-throughput biology to discover and develop novel therapeutics. The company’s proprietary platform integrates deep-learning algorithms with large-scale cellular imaging and chemical biology, enabling the rapid identification of potential drug candidates across a range of indications. By automating complex laboratory workflows and leveraging computational models, Recursion aims to accelerate the drug discovery process and expand the scope of targets that can be addressed.

At the core of Recursion’s offering is its digital biology platform, which captures billions of cell images under varying chemical and genetic perturbations.