Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.84, but opened at $6.58. Recursion Pharmaceuticals shares last traded at $6.36, with a volume of 3,223,158 shares traded.

Wall Street Analyst Weigh In

RXRX has been the subject of several research analyst reports. Leerink Partners reduced their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 28th. KeyCorp reduced their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Cowen reaffirmed a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Trading Up 3.0 %

The company has a 50 day moving average of $7.49 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -4.30 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $4.60 million during the quarter, compared to analyst estimates of $19.04 million. During the same period last year, the business earned ($0.42) earnings per share. The firm’s revenue was down 57.8% compared to the same quarter last year. On average, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Recursion Pharmaceuticals by 40.1% in 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 last quarter. Softbank Group CORP. acquired a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth $99,152,000. State Street Corp grew its holdings in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth $68,375,000. Finally, FMR LLC grew its holdings in shares of Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the period. 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.