Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 2.9% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares shot up 2.9% during trading on Friday . The stock traded as high as $6.78 and last traded at $6.74. 1,143,568 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,760,654 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

RXRX has been the subject of a number of research analyst reports. Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, September 3rd. KeyCorp lowered their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group decreased their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Finally, Needham & Company LLC dropped their target price on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The stock has a market cap of $1.91 billion, a P/E ratio of -4.22 and a beta of 0.80. 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 firm’s 50-day moving average price is $6.70 and its 200-day moving average price is $7.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The business had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $11.96 million. Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.38) EPS. Sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the transaction, the chief executive officer now owns 762,656 shares of the company’s stock, valued at $4,606,442.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $8.13, for a total value of $48,780.00. Following the completion of the transaction, the chief operating officer now directly owns 535,457 shares in the company, valued at approximately $4,353,265.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at $4,606,442.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,129 shares of company stock valued at $1,430,004 in the last three months. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 14.5% during the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock worth $211,072,000 after buying an additional 3,555,357 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Recursion Pharmaceuticals by 10.5% in the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock valued at $199,425,000 after purchasing an additional 2,522,132 shares during the last quarter. Kinnevik AB publ increased its stake in Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after purchasing an additional 1,500,000 shares during the period. Lingotto Investment Management LLP grew its position in Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Recursion Pharmaceuticals by 12.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,362,803 shares of the company’s stock worth $103,317,000 after buying an additional 1,159,023 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.