Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 6.8% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price shot up 6.8% during mid-day trading on Monday . The company traded as high as $7.85 and last traded at $7.42. 8,747,497 shares traded hands during trading, an increase of 35% from the average session volume of 6,502,181 shares. The stock had previously closed at $6.95.

Analysts Set New Price Targets

RXRX has been the subject of several recent research reports. Leerink Partners lowered their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped 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 note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The stock has a 50-day moving average price of $6.77 and a 200 day moving average price of $7.23. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -4.65 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.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same quarter last year, the firm earned ($0.43) EPS. The company’s revenue was up 147.6% on a year-over-year basis. On average, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Activity at Recursion Pharmaceuticals

In other news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total value of $123,200.00. Following the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at $4,697,960.96. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,788 shares of company stock valued at $724,691 over the last quarter. 15.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Recursion Pharmaceuticals during the 3rd quarter worth $25,000. Farther Finance Advisors LLC increased its position in shares of Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after purchasing an additional 4,091 shares in the last quarter. KBC Group NV lifted its holdings in shares of Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after purchasing an additional 3,377 shares during the last quarter. Amalgamated Bank boosted its position in shares of Recursion Pharmaceuticals by 52.4% in 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, San Luis Wealth Advisors LLC purchased a new position in shares of Recursion Pharmaceuticals during the third quarter worth approximately $69,000. 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.