Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Down 6.2% - Here's What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) traded down 6.2% on Monday . The stock traded as low as $4.98 and last traded at $4.95. 4,679,937 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 15,996,274 shares. The stock had previously closed at $5.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price target on shares of Recursion Pharmaceuticals in a research note on Tuesday. Morgan Stanley assumed coverage on Recursion Pharmaceuticals in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $5.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $7.00.

Recursion Pharmaceuticals Stock Up 4.3%

The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $4.82 and a 200-day simple moving average of $6.09. The firm has a market capitalization of $2.27 billion, a PE ratio of -3.16 and a beta of 0.91.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its 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 firm had revenue of $14.75 million during the quarter, compared to analysts' expectations of $18.12 million. During the same period in the prior year, the business earned ($0.39) earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC increased its holdings in Recursion Pharmaceuticals by 7.6% during the 1st quarter. ARK Investment Management LLC now owns 34,815,502 shares of the company's stock valued at $184,174,000 after purchasing an additional 2,469,104 shares during the period. Vanguard Group Inc. grew its holdings in shares of Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock worth $229,908,000 after acquiring an additional 9,737,196 shares during the period. Softbank Group CORP. purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $99,152,000. Kinnevik AB publ grew its holdings in shares of Recursion Pharmaceuticals by 12.8% during the 1st quarter. Kinnevik AB publ now owns 13,434,171 shares of the company's stock worth $71,067,000 after acquiring an additional 1,528,503 shares during the period. Finally, Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $68,375,000. 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.