Stock Traders Buy High Volume of Call Options on Recursion Pharmaceuticals (NASDAQ:RXRX)

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was the recipient of some unusual options trading activity on Friday. Investors bought 62,593 call options on the company. This is an increase of 139% compared to the average volume of 26,225 call options.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Recursion Pharmaceuticals by 11.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,654 shares of the company’s stock worth $821,000 after buying an additional 13,041 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Recursion Pharmaceuticals by 48.8% in the 3rd quarter. Stifel Financial Corp now owns 161,978 shares of the company’s stock valued at $1,067,000 after purchasing an additional 53,103 shares in the last quarter. State Street Corp grew its holdings in shares of 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 purchasing an additional 4,120,685 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $692,000. Finally, Barclays PLC lifted its holdings in Recursion Pharmaceuticals by 53.9% during the 3rd quarter. Barclays PLC now owns 697,432 shares of the company’s stock valued at $4,596,000 after purchasing an additional 244,278 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RXRX. Leerink Partners decreased their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 28th. Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Morgan Stanley cut their target price on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday. KeyCorp lowered their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.20.

Recursion Pharmaceuticals Stock Performance

Shares of RXRX traded up $0.86 during trading hours on Friday, reaching $5.37. 51,934,013 shares of the company traded hands, compared to its average volume of 23,795,184. Recursion Pharmaceuticals has a 1-year low of $3.79 and a 1-year high of $12.36. The stock has a market cap of $2.16 billion, a P/E ratio of -3.51 and a beta of 1.00. The stock’s fifty day moving average is $6.87 and its 200 day moving average is $6.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The firm had revenue of $4.60 million during the quarter, compared to analyst estimates of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business’s revenue for the quarter was down 57.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Equities research analysts anticipate that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

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.