Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 10.8% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares shot up 10.8% during trading on Thursday . The company traded as high as $3.49 and last traded at $3.5350. Approximately 4,967,503 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 17,795,248 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research note on Friday, July 17th. Morgan Stanley set a $5.30 target price on Recursion Pharmaceuticals in a report on Monday, August 17th. Finally, Wall Street Zen raised Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.06.

Recursion Pharmaceuticals Price Performance

The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.05 billion, a PE ratio of -3.68 and a beta of 1.07. The firm’s fifty day simple moving average is $3.26 and its 200-day simple moving average is $3.32.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $7.67 million for the quarter, compared to analysts’ expectations of $10.97 million. Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. During the same quarter in the previous year, the company earned ($0.41) EPS. On average, research analysts forecast that Recursion Pharmaceuticals, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, CEO Najat Khan sold 22,408 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $3.52, for a total value of $78,876.16. Following the completion of the transaction, the chief executive officer owned 2,072,890 shares in the company, valued at $7,296,572.80. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Blake Borgeson sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $3.34, for a total value of $100,200.00. Following the transaction, the director directly owned 6,158,287 shares in the company, valued at approximately $20,568,678.58. The trade was a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 122,408 shares of company stock worth $434,976. Company insiders own 6.65% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RXRX. Norges Bank purchased a new stake in Recursion Pharmaceuticals in the fourth quarter worth about $23,473,000. Renaissance Technologies LLC purchased a new position in shares of Recursion Pharmaceuticals during the 1st quarter valued at about $7,370,000. Lingotto Investment Management LLP lifted its position in shares of Recursion Pharmaceuticals by 34.2% during the 4th quarter. Lingotto Investment Management LLP now owns 4,931,057 shares of the company’s stock valued at $20,168,000 after buying an additional 1,255,980 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Recursion Pharmaceuticals by 537.3% during the 4th quarter. Hsbc Holdings PLC now owns 818,316 shares of the company’s stock valued at $3,367,000 after acquiring an additional 689,903 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Recursion Pharmaceuticals by 18.2% during the 1st quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock valued at $7,665,000 after acquiring an additional 384,486 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biotechnology company that uses artificial intelligence, automation, and large-scale biological experimentation to accelerate the discovery and development of medicines. Its technology platform, known as the Recursion Operating System, integrates data from biology, chemistry, imaging, and machine learning to identify potential drug candidates and better understand disease biology.

The company develops therapies for areas including oncology, rare diseases, and neurological disorders.