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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.88, but opened at $7.17. Recursion Pharmaceuticals shares last traded at $7.71, with a volume of 7,454,633 shares trading hands.

Analyst Ratings Changes

RXRX has been the subject of a number of research reports. KeyCorp cut their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three equities 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, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.75.

Recursion Pharmaceuticals Price Performance

The firm has a market capitalization of $2.94 billion, a P/E ratio of -4.92 and a beta of 0.85. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $6.88 and its 200 day simple moving average is $6.95.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.62 million. During the same quarter in the previous year, the business earned ($0.43) EPS. Recursion Pharmaceuticals’s revenue for the quarter was up 147.6% compared to the same quarter last year. Sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Insider Activity at Recursion Pharmaceuticals

In related news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction 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 transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $6.72, for a total transaction of $76,923.84. Following the sale, the director now directly owns 7,077,560 shares of the company’s stock, valued at $47,561,203.20. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,894 shares of company stock worth $279,279 in the last ninety days. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RXRX. Axxcess Wealth Management LLC grew its position in shares of Recursion Pharmaceuticals by 4.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after buying an additional 1,795 shares during the last quarter. Green Alpha Advisors LLC lifted its stake in Recursion Pharmaceuticals by 2.9% in the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock worth $427,000 after acquiring an additional 1,800 shares during the period. Wedmont Private Capital boosted its holdings in Recursion Pharmaceuticals by 10.6% in the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after acquiring an additional 2,000 shares in the last quarter. Amalgamated Bank increased its position in Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Recursion Pharmaceuticals by 5.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,530 shares of the company’s stock worth $346,000 after purchasing an additional 2,667 shares in the last quarter. 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.