Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Down – Time to Sell?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped down before the market opened 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RXRX shares. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Cowen reissued a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Finally, Leerink Partners decreased their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $8.25.

Recursion Pharmaceuticals Price Performance

The business’s 50 day moving average is $7.52 and its two-hundred day moving average is $7.01. 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 firm has a market capitalization of $2.56 billion, a PE ratio of -4.16 and a beta of 0.85.

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

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Recursion Pharmaceuticals by 25.1% in the 3rd quarter. Victory Capital Management Inc. now owns 27,394 shares of the company’s stock worth $181,000 after buying an additional 5,503 shares during the last quarter. KBC Group NV lifted its holdings in shares of Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after acquiring an additional 3,377 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter valued at $349,000. Charles Schwab Investment Management Inc. raised its position in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after purchasing an additional 288,926 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in Recursion Pharmaceuticals in the third quarter worth $71,000. 89.06% of the stock is currently owned by hedge funds and other 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.