Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 5.1% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares were down 5.1% during mid-day trading on Thursday . The stock traded as low as $4.62 and last traded at $4.66. Approximately 22,462,030 shares changed hands during trading, an increase of 61% from the average daily volume of 13,988,351 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Leerink Partners decreased their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Finally, Needham & Company LLC decreased their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.60.

Recursion Pharmaceuticals Price Performance

The business's 50-day simple moving average is $4.81 and its 200 day simple moving average is $6.35. The company has a market capitalization of $2.23 billion, a P/E ratio of -3.59 and a beta of 0.84. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $14.75 million during the quarter, compared to analyst estimates of $18.12 million. During the same quarter last year, the company earned ($0.39) earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Private Trust Co. NA bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $27,000. AlphaQuest LLC acquired a new stake in Recursion Pharmaceuticals during the first quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in Recursion Pharmaceuticals by 39.0% during the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after buying an additional 2,026 shares in the last quarter. Farther Finance Advisors LLC grew its position in Recursion Pharmaceuticals by 21.1% in the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after buying an additional 1,353 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Recursion Pharmaceuticals by 43.7% in the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after buying an additional 2,387 shares in the last quarter. 89.06% of the stock is 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.