Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 8.1% – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was up 8.1% during trading on Thursday . The company traded as high as $7.40 and last traded at $7.31. Approximately 6,584,147 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 6,933,797 shares. The stock had previously closed at $6.76.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Price Performance

The firm has a market cap of $3.05 billion, a PE ratio of -5.10 and a beta of 0.85. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $6.87 and a 200 day moving average price of $7.08.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (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 for the quarter, compared to analyst estimates of $12.62 million. During the same quarter in the previous year, the firm posted ($0.43) EPS. The business’s revenue was up 147.6% on a year-over-year basis. On average, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Transactions at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,288,380.78. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total value of $94,800.00. Following the completion of the sale, the chief financial officer now directly owns 1,426,506 shares of the company’s stock, valued at $9,015,517.92. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,341 shares of company stock worth $488,290 in the last three months. Company insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Recursion Pharmaceuticals by 20.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company’s stock valued at $7,956,000 after purchasing an additional 178,994 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Recursion Pharmaceuticals by 39.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,863 shares of the company’s stock worth $374,000 after acquiring an additional 14,060 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Recursion Pharmaceuticals by 25.7% in the second quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock worth $332,000 after acquiring an additional 9,058 shares in the last quarter. Rhumbline Advisers boosted its holdings in Recursion Pharmaceuticals by 24.1% in the second quarter. Rhumbline Advisers now owns 281,348 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54,576 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Recursion Pharmaceuticals by 296.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 154,394 shares of the company’s stock valued at $1,158,000 after purchasing an additional 115,418 shares in the last quarter. Hedge funds and other institutional investors 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.