Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $5.16, but opened at $5.03. Recursion Pharmaceuticals shares last traded at $5.04, with a volume of 2,613,323 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RXRX shares. 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 note on Friday, February 28th. Needham & Company LLC decreased their target price on shares of Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Morgan Stanley cut their price target on shares of Recursion Pharmaceuticals from $8.00 to $5.00 and set an "equal weight" rating on the stock in a report on Monday, June 16th. Finally, Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $7.00.

Recursion Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.08 billion, a PE ratio of -2.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a 50 day moving average of $4.90 and a 200-day moving average of $6.21.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The company had revenue of $14.75 million during the quarter, compared to analysts' expectations of $18.12 million. Recursion Pharmaceuticals's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned ($0.39) earnings per share. Research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RXRX. Private Trust Co. NA bought a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $27,000. AlphaQuest LLC bought a new stake in Recursion Pharmaceuticals in the first quarter worth approximately $36,000. GAMMA Investing LLC increased its stake in shares of Recursion Pharmaceuticals by 39.0% during the 1st quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after purchasing an additional 2,026 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 21.1% during the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock valued at $52,000 after purchasing an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Recursion Pharmaceuticals by 43.7% in the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after purchasing an additional 2,387 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

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.

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