Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 2.4% – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 2.4% on Tuesday . The stock traded as low as $7.50 and last traded at $7.76. Approximately 8,984,496 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 15,902,586 shares. The stock had previously closed at $7.95.

Wall Street Analyst Weigh In

RXRX has been the topic of a number of recent research reports. KeyCorp cut their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.75.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85. The firm has a fifty day simple moving average of $6.91 and a two-hundred day simple moving average of $7.02.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. During the same period in the prior year, the firm posted ($0.43) EPS. The firm’s revenue for the quarter was up 147.6% on a year-over-year basis. On average, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In related news, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $6.31, for a total value of $37,860.00. Following the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,288,380.78. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,341 shares of company stock worth $393,490. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after purchasing an additional 4,626,268 shares in the last quarter. State Street Corp grew its stake in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. FMR LLC increased its position in shares of Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after acquiring an additional 170,810 shares during the period. Geode Capital Management LLC raised its stake in shares of Recursion Pharmaceuticals by 13.7% in the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after acquiring an additional 656,003 shares in the last quarter. Finally, Lingotto Investment Management LLP grew its stake in Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

About Recursion Pharmaceuticals

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.