Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 6.8% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares rose 6.8% during mid-day trading on Monday . The stock traded as high as $7.85 and last traded at $7.42. Approximately 8,747,497 shares changed 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 analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of 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 objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Leerink Partners reduced their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Trading Down 4.3 %

The stock has a market capitalization of $2.04 billion, a PE ratio of -4.65 and a beta of 0.85. The company’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $7.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

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

Insider Buying and Selling

In related news, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,788 shares of company stock worth $724,691. 15.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RXRX. Charles Schwab Investment Management Inc. grew its holdings in shares of Recursion Pharmaceuticals by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after purchasing an additional 288,926 shares during the period. FMR LLC raised its stake in shares of Recursion Pharmaceuticals by 2.1% in the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after acquiring an additional 170,810 shares during the period. State Street Corp lifted 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 acquiring an additional 4,120,685 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals during the 2nd quarter worth approximately $5,769,000. Finally, Pier 88 Investment Partners LLC raised its position 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 valued at $882,000 after purchasing an additional 109,210 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.