Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 3.3% Following Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares fell 3.3% during trading on Thursday following insider selling activity. The stock traded as low as $6.78 and last traded at $6.78. 1,108,949 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 5,763,784 shares. The stock had previously closed at $7.01.

Specifically, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $6.67, for a total value of $76,351.49. Following the completion of the transaction, the director now owns 7,089,007 shares in the company, valued at $47,283,676.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RXRX. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Tuesday, September 3rd. Needham & Company LLC cut their price objective on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group cut their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Finally, KeyCorp cut their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. The stock’s 50-day moving average price is $6.71 and its 200 day moving average price is $7.79. The firm has a market cap of $1.65 billion, a P/E ratio of -4.34 and a beta of 0.80.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The firm had revenue of $14.42 million for the quarter, compared to the consensus estimate of $11.96 million. During the same period last year, the company posted ($0.38) earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current year.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. Allspring Global Investments Holdings LLC bought a new stake in Recursion Pharmaceuticals during the third quarter worth $25,000. Benjamin F. Edwards & Company Inc. bought a new stake in Recursion Pharmaceuticals during the first quarter worth $26,000. GAMMA Investing LLC raised its position in Recursion Pharmaceuticals by 1,588.4% during the second quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock worth $48,000 after acquiring an additional 6,036 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares during the last quarter. Finally, San Luis Wealth Advisors LLC acquired a new position in shares of Recursion Pharmaceuticals in the third quarter valued at $69,000. 89.06% of the stock is 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.