Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 1.9% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price rose 1.9% during trading on Thursday . The company traded as high as $7.39 and last traded at $7.38. Approximately 4,449,983 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 6,807,676 shares. The stock had previously closed at $7.24.

Wall Street Analyst Weigh In

RXRX has been the topic of several recent research reports. Leerink Partners decreased their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals has an average rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The firm’s 50-day simple moving average is $6.78 and its 200-day simple moving average is $7.16. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.17 billion, a PE ratio of -4.94 and a beta of 0.85.

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

Insider Buying and Selling

In related news, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total transaction of $37,860.00. Following the transaction, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,288,380.78. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Gibson sold 20,000 shares of the company’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 transaction, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,788 shares of company stock worth $682,691 in the last three months. 15.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after buying an additional 288,926 shares during the period. 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 valued at $55,116,000 after purchasing an additional 170,810 shares during the last quarter. State Street Corp grew its position in Recursion Pharmaceuticals by 47.1% during 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 period. Perceptive Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals during the 2nd quarter valued at about $5,769,000. Finally, Pier 88 Investment Partners LLC lifted its holdings in shares of Recursion Pharmaceuticals by 442.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company’s stock valued at $882,000 after buying an additional 109,210 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.