Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 8.1% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares rose 8.1% on Thursday . The stock traded as high as $7.40 and last traded at $7.31. Approximately 6,584,147 shares changed hands 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.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Up 4.1 %

The stock’s fifty day simple moving average is $6.82 and its 200-day simple moving average is $7.09. The stock has a market cap of $2.02 billion, a P/E ratio of -4.60 and a beta of 0.85. 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals’s revenue was up 147.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) EPS. As a group, research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the sale, the director now owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $6.32, for a total transaction of $94,800.00. Following the transaction, the chief financial officer now owns 1,426,506 shares of the company’s stock, valued at approximately $9,015,517.92. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,341 shares of company stock worth $488,290. 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 modified their holdings of RXRX. Axxcess Wealth Management LLC lifted its position in shares of Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after buying an additional 1,795 shares during the last quarter. Green Alpha Advisors LLC raised its stake in Recursion Pharmaceuticals by 2.9% during the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock worth $427,000 after acquiring an additional 1,800 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after acquiring an additional 2,459 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Recursion Pharmaceuticals by 13.5% in the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after purchasing an additional 2,598 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Recursion Pharmaceuticals by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,530 shares of the company’s stock valued at $346,000 after purchasing an additional 2,667 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

About Recursion Pharmaceuticals

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.