Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 6.8% Higher – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price rose 6.8% during trading on Monday . The stock traded as high as $7.85 and last traded at $7.42. Approximately 8,747,497 shares traded hands during trading, an increase of 35% from the average daily volume of 6,502,181 shares. The stock had previously closed at $6.95.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RXRX. Jefferies Financial Group cut their price target 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 restated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Leerink Partners cut 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 report on Tuesday, September 3rd. Three equities 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.com, the company has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -4.85 and a beta of 0.85. The stock’s 50 day moving average is $6.73 and its two-hundred day moving average is $7.25. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released 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 firm had revenue of $26.08 million during 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 company’s revenue was up 147.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS. Analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.84, for a total value of $78,297.48. Following the completion of the transaction, the director now directly owns 7,109,875 shares in the company, valued at $48,631,545. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,235 shares of company stock valued at $802,988. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Recursion Pharmaceuticals in the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC grew its holdings in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after purchasing an additional 4,091 shares during the period. Amalgamated Bank increased its position 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 buying an additional 2,459 shares during the last quarter. KBC Group NV lifted its position in shares of Recursion Pharmaceuticals by 79.9% in the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after buying an additional 3,377 shares during the last quarter. Finally, San Luis Wealth Advisors LLC bought a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth approximately $69,000. 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.