Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 13.2% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was up 13.2% during mid-day trading on Monday . The stock traded as high as $8.06 and last traded at $8.04. Approximately 4,246,413 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 5,661,439 shares. The stock had previously closed at $7.10.

Analysts Set New Price Targets

A number of analysts recently weighed in on RXRX shares. Leerink Partners decreased their price target 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. Jefferies Financial Group dropped their target price on 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 restated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 6.07. The business has a fifty day moving average of $6.57 and a 200 day moving average of $7.62. The stock has a market cap of $2.13 billion, a PE ratio of -5.25 and a beta of 0.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same quarter last year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was up 147.6% on a year-over-year basis. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.54 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total value of $45,360.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,939,803.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $6.35, for a total transaction of $95,250.00. Following the completion of the transaction, the chief financial officer now directly owns 1,340,968 shares in the company, valued at $8,515,146.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $7.56, for a total value of $45,360.00. Following the completion of the sale, the chief operating officer now owns 521,138 shares in the company, valued at $3,939,803.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,682 shares of company stock worth $1,107,868 over the last quarter. 15.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Recursion Pharmaceuticals in the third quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its stake in shares of Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after buying an additional 4,091 shares in the last quarter. GAMMA Investing LLC boosted its stake in Recursion Pharmaceuticals by 1,588.4% during the second quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock valued at $48,000 after buying an additional 6,036 shares in the last quarter. Amalgamated Bank grew its holdings in Recursion Pharmaceuticals by 52.4% during the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after acquiring an additional 2,459 shares during the period. Finally, KBC Group NV raised its position in Recursion Pharmaceuticals by 79.9% in the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after acquiring an additional 3,377 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.