Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Falls 4.3% - Here's Why

Key Points

• Recursion Pharmaceuticals shares fell 4.3% to $4.5750, with approximately 14.15 million shares traded—24% below average volume.
• Analysts maintain a consensus “Hold” rating with an average price target of $8.06, despite mixed recommendations ranging from Buy to Sell.
• The company missed quarterly expectations, reporting an adjusted loss of $0.25 per share versus estimates of $0.24 and revenue of $7.67 million versus the $10.97 million consensus; insiders sold 82,408 shares during the quarter.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price traded down 4.3% on Tuesday. The stock traded as low as $4.74 and last traded at $4.5750. 14,149,966 shares changed hands during trading, a decline of 24% from the average session volume of 18,554,494 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a research report on Friday, July 17th. Morgan Stanley set a $5.30 price target on Recursion Pharmaceuticals in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded Recursion Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, August 29th. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.06.

Recursion Pharmaceuticals Trading Down 4.3%

The firm has a 50 day simple moving average of $3.47 and a 200 day simple moving average of $3.36. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.45 billion, a PE ratio of -4.39 and a beta of 1.04.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings results 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). Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. The business had revenue of $7.67 million for the quarter, compared to the consensus estimate of $10.97 million. During the same period in the previous year, the company earned ($0.41) earnings per share. Equities analysts expect that Recursion Pharmaceuticals, Inc. will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $3.34, for a total value of $100,200.00. Following the completion of the sale, the director owned 6,158,287 shares of the company's stock, valued at approximately $20,568,678.58. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 sale, the chief executive officer owned 2,072,890 shares of the company's stock, valued at approximately $7,296,572.80. This represents a 1.07% decrease in their ownership of the stock. 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 sold 82,408 shares of company stock valued at $276,576 over the last quarter. Company insiders own 6.65% of the company's stock.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $23,473,000. First Trust Advisors LP boosted its stake in 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 last quarter. Bank of America Corp DE increased its stake in Recursion Pharmaceuticals by 18.2% in the 1st quarter. Bank of America Corp DE now owns 2,496,831 shares of the company's stock worth $7,665,000 after acquiring an additional 384,486 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Recursion Pharmaceuticals during the 1st quarter worth approximately $7,370,000. Finally, Bank of New York Mellon Corp increased its position in Recursion Pharmaceuticals by 29.3% in the first quarter. Bank of New York Mellon Corp now owns 1,462,631 shares of the company's stock worth $4,490,000 after purchasing an additional 331,048 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc is a clinical-stage biotechnology company that uses biology, chemistry, automation and machine learning to discover and develop new medicines. The company's technology platform is designed to generate and analyze large volumes of biological and chemical data, helping researchers identify potential drug candidates and better understand disease mechanisms.

Recursion has focused its research and development activities on areas including oncology, rare diseases and neuroscience.

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