Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 9% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price rose 9% on Thursday . The company traded as high as $7.89 and last traded at $7.80. Approximately 12,984,144 shares changed hands during trading, a decline of 22% from the average daily volume of 16,672,463 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RXRX. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. KeyCorp reduced their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th.

Recursion Pharmaceuticals Trading Up 7.4 %

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $6.96 and its 200-day moving average is $6.93. The company has a market cap of $3.00 billion, a PE ratio of -5.03 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same period in the previous year, the business posted ($0.43) EPS. The firm’s revenue was up 147.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Transactions at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the sale, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total value of $87,455.08. Following the transaction, the director now directly owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. ARK Investment Management LLC increased its stake in Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp increased its stake in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares during the period. FMR LLC lifted its holdings in Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after buying an additional 170,810 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after buying an additional 656,003 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Recursion Pharmaceuticals by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,140,750 shares of the company’s stock valued at $14,108,000 after buying an additional 43,078 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.