Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 5.2% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $5.31 and last traded at $5.35. 2,557,841 shares changed hands during trading, a decline of 78% from the average session volume of 11,886,788 shares. The stock had previously closed at $5.64.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RXRX. Cowen reaffirmed a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Leerink Partners decreased their price objective on 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. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley dropped their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Finally, KeyCorp dropped their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.20.

Recursion Pharmaceuticals Trading Down 7.1 %

The stock has a market capitalization of $2.11 billion, a P/E ratio of -3.42 and a beta of 1.00. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $6.75 and its 200-day moving average price is $6.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The company had revenue of $4.60 million for the quarter, compared to analysts’ expectations of $19.04 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 down 57.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share. As a group, equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after purchasing an additional 9,737,196 shares in the last quarter. Softbank Group CORP. purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $99,152,000. State Street Corp boosted its stake in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares in the last quarter. Novo Holdings A S acquired a new position in Recursion Pharmaceuticals during the 4th quarter valued at approximately $68,375,000. Finally, Geode Capital Management LLC raised its holdings in shares of Recursion Pharmaceuticals by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 6,087,149 shares of the company’s stock worth $41,160,000 after buying an additional 655,238 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.