Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 1.9% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was up 1.9% during mid-day trading on Thursday . The stock 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Leerink Partners decreased their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $2.17 billion, a PE ratio of -4.94 and a beta of 0.85. 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 business has a 50-day moving average of $6.78 and a 200 day moving average of $7.16.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share 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 business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same quarter last year, the company earned ($0.43) EPS. Recursion Pharmaceuticals’s revenue for the quarter was up 147.6% on a year-over-year basis. Equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the sale, the chief executive officer now owns 762,656 shares in the company, valued at $4,697,960.96. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,788 shares of company stock valued at $682,691. 15.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RXRX. ARK Investment Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after acquiring an additional 4,626,268 shares during the period. State Street Corp boosted its stake in 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 purchasing an additional 4,120,685 shares during the period. Lingotto Investment Management LLP grew its holdings in Recursion Pharmaceuticals by 69.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after buying an additional 1,500,000 shares in the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of Recursion Pharmaceuticals during the second quarter valued at approximately $8,250,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals in the second quarter worth $5,769,000. 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.