Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 1.3% – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) dropped 1.3% during trading on Wednesday . The company traded as low as $5.98 and last traded at $5.98. Approximately 5,272,832 shares traded hands during trading, a decline of 79% from the average daily volume of 25,186,756 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

RXRX has been the topic of a number of research analyst reports. Leerink Partners dropped their price target 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 reaffirmed a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. KeyCorp dropped their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Cowen reaffirmed a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Stock Performance

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 firm has a market capitalization of $2.47 billion, a P/E ratio of -4.02 and a beta of 0.85. The stock has a fifty day moving average of $7.57 and a 200-day moving average of $7.03.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The firm had revenue of $4.60 million for the quarter, compared to the consensus estimate of $19.04 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 down 57.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.42) earnings per share. On average, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Softbank Group CORP. bought a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $99,152,000. Novo Holdings A S bought a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $68,375,000. Vanguard Group Inc. grew its stake in Recursion Pharmaceuticals by 40.1% in the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock valued at $229,908,000 after purchasing an additional 9,737,196 shares in the last quarter. State Street Corp grew its stake in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares in the last quarter. Finally, Norges Bank bought a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $23,429,000. 89.06% of the stock is currently owned by institutional investors.

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.