Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 4.4% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares rose 4.4% on Wednesday . The stock traded as high as $6.82 and last traded at $6.60. Approximately 5,031,041 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 15,167,364 shares. The stock had previously closed at $6.32.

Wall Street Analysts Forecast Growth

RXRX has been the topic of several recent analyst reports. KeyCorp reduced their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.75.

Recursion Pharmaceuticals Trading Up 2.7 %

The stock’s fifty day moving average price is $6.93 and its 200 day moving average price is $6.97. 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 stock has a market capitalization of $2.54 billion, a P/E ratio of -4.24 and a beta of 0.85.

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

Insiders Place Their Bets

In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $6.72, for a total value of $76,923.84. Following the sale, the director now directly owns 7,077,560 shares in the company, valued at approximately $47,561,203.20. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the sale, the chief operating officer now owns 521,138 shares in the company, valued at $3,288,380.78. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,894 shares of company stock worth $317,139 in the last three months. Corporate insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $84,000. Avanza Fonder AB purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $580,000. Decker Retirement Planning Inc. purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $26,000. 180 Wealth Advisors LLC raised its position in shares of Recursion Pharmaceuticals by 21.2% in the 4th quarter. 180 Wealth Advisors LLC now owns 31,230 shares of the company’s stock valued at $211,000 after purchasing an additional 5,455 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of Recursion Pharmaceuticals by 10.6% in the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after purchasing an additional 2,000 shares during the last quarter. 89.06% of the stock is currently 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.