Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Unusually-High Trading Volume – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares saw unusually-strong trading volume on Monday . Approximately 3,696,253 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 5,892,986 shares.The stock last traded at $6.02 and had previously closed at $5.70.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RXRX shares. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group decreased their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, November 20th. Three investment 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Up 5.1 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -3.99 and a beta of 0.81. The business has a fifty day simple moving average of $6.62 and a 200-day simple moving average of $7.49.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data 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 net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. During the same period in the prior year, the company earned ($0.43) EPS. The business’s quarterly revenue was up 147.6% compared to the same quarter last year. As a group, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total value of $45,360.00. Following the transaction, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at $3,939,803.28. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Secora sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,682 shares of company stock worth $1,133,471. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC boosted its holdings in shares of Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after buying an additional 4,626,268 shares in the last quarter. State Street Corp grew its stake in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after acquiring an additional 4,120,685 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Recursion Pharmaceuticals by 10.5% during the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock valued at $199,425,000 after acquiring an additional 2,522,132 shares in the last quarter. Kinnevik AB publ raised its position in shares of Recursion Pharmaceuticals by 14.4% during the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock worth $89,293,000 after purchasing an additional 1,500,000 shares during the period. Finally, Lingotto Investment Management LLP lifted its holdings in shares of Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

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.