Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Large Volume Increase – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares saw unusually-high trading volume on Monday . Approximately 4,632,423 shares traded hands during mid-day trading, a decline of 29% from the previous session’s volume of 6,480,514 shares.The stock last traded at $7.78 and had previously closed at $6.95.

Analyst Upgrades and Downgrades

Several research firms have commented on RXRX. Jefferies Financial Group reduced their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Leerink Partners dropped their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Down 4.3 %

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 $2.04 billion, a P/E ratio of -4.65 and a beta of 0.85. The stock has a fifty day moving average price of $6.77 and a two-hundred day moving average price of $7.23.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period last year, the company posted ($0.43) earnings per share. Research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $7.00, for a total value of $42,000.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares in the company, valued at $3,647,966. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,788 shares of company stock valued at $724,691 in the last quarter. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 16.4% in the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after buying an additional 4,626,268 shares in the last quarter. State Street Corp grew its position in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Baillie Gifford & Co. increased its position in Recursion Pharmaceuticals by 10.5% in the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after buying an additional 2,522,132 shares during the period. Lingotto Investment Management LLP grew its stake in shares of Recursion Pharmaceuticals by 69.0% in the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after acquiring an additional 1,500,000 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in Recursion Pharmaceuticals during the 2nd quarter valued at $8,250,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.