Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 1.6% Higher – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares traded up 1.6% during trading on Wednesday . The stock traded as high as $6.62 and last traded at $6.54. 1,044,577 shares were traded during mid-day trading, a decline of 82% from the average session volume of 5,804,447 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC cut their price objective on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. KeyCorp cut their price target on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Leerink Partners cut their price target 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. Finally, Jefferies Financial Group cut their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and a consensus price target of $9.40.

Recursion Pharmaceuticals Stock Up 7.1 %

The company has a 50-day moving average price of $6.70 and a 200 day moving average price of $7.93. The firm has a market capitalization of $1.57 billion, a PE ratio of -4.11 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. The business had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $11.96 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. Recursion Pharmaceuticals’s revenue was up 30.9% on a year-over-year basis. Analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $8.48, for a total value of $97,070.56. Following the sale, the director now directly owns 7,155,663 shares of the company’s stock, valued at approximately $60,680,022.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total value of $97,070.56. Following the sale, the director now owns 7,155,663 shares in the company, valued at approximately $60,680,022.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,606,442.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,682 shares of company stock worth $1,353,652 in the last 90 days. 15.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RXRX. Green Alpha Advisors LLC increased its position in shares of Recursion Pharmaceuticals by 2.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock valued at $427,000 after purchasing an additional 1,800 shares during the last quarter. Wedmont Private Capital boosted its stake in Recursion Pharmaceuticals by 11.8% during the first quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock worth $172,000 after buying an additional 2,000 shares during the period. Interchange Capital Partners LLC increased its position in Recursion Pharmaceuticals by 7.3% during the second quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company’s stock valued at $268,000 after acquiring an additional 2,349 shares during the last quarter. Amalgamated Bank raised its stake in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after acquiring an additional 2,459 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Recursion Pharmaceuticals in the 1st quarter worth about $26,000. 89.06% of the stock is owned by institutional investors.

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.