Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 3.6% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shot up 3.6% on Wednesday . The company traded as high as $7.34 and last traded at $7.24. 13,659,767 shares traded hands during mid-day trading, an increase of 100% from the average session volume of 6,818,902 shares. The stock had previously closed at $6.99.

Wall Street Analyst Weigh In

RXRX has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Jefferies Financial Group reduced their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, September 3rd. Finally, Leerink Partners dropped their target price on 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. Three research 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, Recursion Pharmaceuticals has a consensus rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The stock has a market cap of $2.08 billion, a P/E ratio of -4.73 and a beta of 0.85. The firm has a 50 day moving average of $6.77 and a two-hundred day moving average of $7.16. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced 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). The company had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company’s revenue was up 147.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) EPS. On average, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total transaction of $71,200.34. Following the transaction, the director now directly owns 7,098,428 shares in the company, valued at $44,152,222.16. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares of the company’s stock, valued at $4,697,960.96. This represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,788 shares of company stock worth $724,691. 15.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently made changes to their positions in RXRX. Bank of New York Mellon Corp raised its position in Recursion Pharmaceuticals by 20.3% in the second quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company’s stock worth $7,956,000 after purchasing an additional 178,994 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Recursion Pharmaceuticals by 39.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,863 shares of the company’s stock worth $374,000 after buying an additional 14,060 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Recursion Pharmaceuticals in the 2nd quarter valued at $302,000. International Assets Investment Management LLC bought a new stake in Recursion Pharmaceuticals in the second quarter valued at $101,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Recursion Pharmaceuticals by 25.7% during the second quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock valued at $332,000 after acquiring an additional 9,058 shares during the period. 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.