Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 8.6% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price traded up 8.6% during trading on Friday . The company traded as high as $7.00 and last traded at $6.93. 8,084,092 shares were traded during mid-day trading, an increase of 35% from the average session volume of 6,003,390 shares. The stock had previously closed at $6.38.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Leerink Partners cut their price target on shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Up 10.8 %

The firm’s 50 day moving average is $6.57 and its 200 day moving average is $7.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The company has a market capitalization of $2.03 billion, a PE ratio of -4.62 and a beta of 0.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released 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). The business had revenue of $26.08 million for 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 for the quarter was up 147.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the completion of the transaction, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at $4,606,442.24. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $6.17, for a total value of $92,550.00. Following the sale, the chief financial officer now directly owns 1,377,756 shares in the company, valued at approximately $8,500,754.52. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,682 shares of company stock worth $1,088,111. 15.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RXRX. Franklin Resources Inc. boosted its holdings in shares of Recursion Pharmaceuticals by 58.9% during the 3rd quarter. Franklin Resources Inc. now owns 18,963 shares of the company’s stock valued at $127,000 after buying an additional 7,027 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Recursion Pharmaceuticals during the 3rd quarter valued at about $89,000. Geode Capital Management LLC boosted its stake in Recursion Pharmaceuticals by 13.7% during the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after acquiring an additional 656,003 shares in the last quarter. Barclays PLC grew its holdings in Recursion Pharmaceuticals by 53.9% in the third quarter. Barclays PLC now owns 697,432 shares of the company’s stock worth $4,596,000 after purchasing an additional 244,278 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Recursion Pharmaceuticals during the third quarter valued at approximately $692,000. Institutional investors 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.