Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 0.7% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) traded up 0.7% during trading on Friday . The stock traded as high as $6.19 and last traded at $6.13. 7,806,536 shares were traded during mid-day trading, an increase of 17% from the average session volume of 6,678,073 shares. The stock had previously closed at $6.09.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group cut their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Leerink Partners dropped their price target on 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Trading Down 1.0 %

The stock has a market cap of $1.73 billion, a P/E ratio of -3.94 and a beta of 0.85. 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 stock has a 50-day moving average price of $6.76 and a 200-day moving average price of $7.20.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business’s quarterly revenue was up 147.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of the business’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 transaction of $114,900.00. Following the transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $7.00, for a total value of $42,000.00. Following the transaction, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,647,966. This trade represents 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 ninety days. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in RXRX. Charles Schwab Investment Management Inc. boosted its position in shares of Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after purchasing an additional 288,926 shares in the last quarter. FMR LLC boosted its holdings in Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after acquiring an additional 170,810 shares in the last quarter. State Street Corp boosted its holdings in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. Perceptive Advisors LLC bought a new stake in Recursion Pharmaceuticals in the second quarter worth $5,769,000. Finally, Pier 88 Investment Partners LLC boosted its holdings in Recursion Pharmaceuticals by 442.1% in the third quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company’s stock worth $882,000 after acquiring an additional 109,210 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other 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.