Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 8.8% – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price traded down 8.8% during trading on Wednesday. The company traded as low as $3.71 and last traded at $3.6950. 15,342,385 shares changed hands during trading, a decline of 16% from the average session volume of 18,306,123 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

RXRX has been the topic of a number of research reports. Wall Street Zen raised Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Morgan Stanley set a $5.30 target price on shares of Recursion Pharmaceuticals in a report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $8.06.

Recursion Pharmaceuticals Trading Down 2.4%

The company has a market cap of $2.03 billion, a PE ratio of -3.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03. The company has a 50-day moving average of $3.31 and a 200 day moving average of $3.33.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data 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 analysts’ expectations 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 last year, the company earned ($0.41) earnings per share. Analysts predict that Recursion Pharmaceuticals, Inc. will post -0.94 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $3.34, for a total transaction of $100,200.00. Following the completion of the transaction, the director directly owned 6,158,287 shares of the company’s stock, valued at $20,568,678.58. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Najat Khan sold 22,408 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total transaction of $78,876.16. Following the transaction, the chief executive officer owned 2,072,890 shares in the company, valued at $7,296,572.80. This trade represents a 1.07% 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. Insiders have sold a total of 122,408 shares of company stock worth $434,976 in the last 90 days. 6.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth about $23,473,000. Lingotto Investment Management LLP boosted its position in shares of Recursion Pharmaceuticals by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 4,931,057 shares of the company’s stock valued at $20,168,000 after buying an additional 1,255,980 shares during the period. First Trust Advisors LP boosted its position in shares of Recursion Pharmaceuticals by 15.2% during the first quarter. First Trust Advisors LP now owns 2,610,726 shares of the company’s stock valued at $8,015,000 after buying an additional 344,035 shares during the period. Bank of America Corp DE grew its stake in shares of Recursion Pharmaceuticals by 18.2% during the first quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock valued at $7,665,000 after buying an additional 384,486 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Recursion Pharmaceuticals during the first quarter valued at approximately $7,370,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biotechnology company that uses artificial intelligence, automation, and large-scale biological experimentation to accelerate the discovery and development of medicines. Its technology platform, known as the Recursion Operating System, integrates data from biology, chemistry, imaging, and machine learning to identify potential drug candidates and better understand disease biology.

The company develops therapies for areas including oncology, rare diseases, and neurological disorders.