Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 7.6%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) rose 7.6% during trading on Thursday . The stock traded as high as $7.85 and last traded at $7.78. Approximately 2,863,840 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 6,162,631 shares. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RXRX. KeyCorp decreased their target price on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target on shares of Recursion Pharmaceuticals in a research report on Tuesday, June 25th.

Recursion Pharmaceuticals Stock Up 6.2 %

The stock’s fifty day simple moving average is $8.74 and its 200-day simple moving average is $9.81. The company has a market capitalization of $1.83 billion, a PE ratio of -4.86 and a beta of 0.83.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. The company had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $11.10 million. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. Analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Activity at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total transaction of $43,260.00. Following the completion of the sale, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at approximately $3,860,644.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $7.66, for a total transaction of $87,684.02. Following the sale, the director now directly owns 7,229,861 shares of the company’s stock, valued at $55,380,735.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $7.21, for a total value of $43,260.00. Following the completion of the transaction, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at approximately $3,860,644.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,359 shares of company stock worth $1,704,435. 15.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RXRX. Wesbanco Bank Inc. grew its position in shares of Recursion Pharmaceuticals by 70.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 111,200 shares of the company’s stock worth $834,000 after acquiring an additional 46,000 shares in the last quarter. Kinnevik AB publ boosted its stake in Recursion Pharmaceuticals by 14.4% during the 2nd quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after purchasing an additional 1,500,000 shares during the period. DNB Asset Management AS bought a new stake in shares of Recursion Pharmaceuticals during the second quarter valued at approximately $248,000. GAMMA Investing LLC boosted its position in shares of Recursion Pharmaceuticals by 1,588.4% during the second quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock worth $48,000 after buying an additional 6,036 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Recursion Pharmaceuticals by 9.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 187,927 shares of the company’s stock valued at $1,873,000 after acquiring an additional 16,600 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.