Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Down 11.1% on Insider Selling

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were down 11.1% on Tuesday following insider selling activity. The stock traded as low as $6.22 and last traded at $6.47. Approximately 4,228,886 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 5,934,939 shares. The stock had previously closed at $7.28.

Specifically, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total transaction of $45,360.00. Following the sale, the chief operating officer now owns 521,138 shares in the company, valued at $3,939,803.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RXRX shares. Leerink Partners dropped their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday. Needham & Company LLC lowered their price objective on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, KeyCorp lowered their price objective on 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and a consensus target price of $9.40.

Recursion Pharmaceuticals Stock Up 0.5 %

The stock has a 50-day moving average of $7.38 and a 200-day moving average of $8.92. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.71 billion, a PE ratio of -3.81 and a beta of 0.82.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The firm had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $11.96 million. During the same quarter in the previous year, the business earned ($0.38) EPS. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. Sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RXRX. Mubadala Investment Co PJSC bought a new stake in shares of Recursion Pharmaceuticals in the fourth quarter worth about $128,041,000. Gladstone Institutional Advisory LLC purchased a new position in Recursion Pharmaceuticals in the 4th quarter worth approximately $133,000. Capstone Investment Advisors LLC bought a new stake in Recursion Pharmaceuticals in the 1st quarter worth approximately $161,000. Norges Bank bought a new stake in Recursion Pharmaceuticals in the 4th quarter worth approximately $34,825,000. Finally, UBS Group AG grew its position in Recursion Pharmaceuticals by 101.9% in the 4th quarter. UBS Group AG now owns 691,911 shares of the company’s stock worth $6,822,000 after purchasing an additional 349,232 shares during the period. 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.