Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 4.4% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 4.4% on Wednesday . The company traded as high as $6.82 and last traded at $6.60. Approximately 5,031,041 shares traded hands during trading, a decline of 67% from the average daily volume of 15,167,364 shares. The stock had previously closed at $6.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RXRX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. KeyCorp cut their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.75.

Recursion Pharmaceuticals Trading Up 2.7 %

The firm has a market capitalization of $2.54 billion, a P/E ratio of -4.24 and a beta of 0.85. The stock’s 50-day simple moving average is $6.93 and its two-hundred day simple moving average is $6.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $26.08 million during 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%. The business’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.43) earnings per share. Equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $6.72, for a total transaction of $76,923.84. Following the completion of the transaction, the director now directly owns 7,077,560 shares in the company, valued at $47,561,203.20. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,894 shares of company stock worth $317,139 over the last three months. 15.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Axxcess Wealth Management LLC raised its stake in Recursion Pharmaceuticals by 4.3% during the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after purchasing an additional 1,795 shares in 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 valued at $427,000 after purchasing an additional 1,800 shares in the last quarter. Wedmont Private Capital raised its stake in Recursion Pharmaceuticals by 10.6% during the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after purchasing an additional 2,000 shares in the last quarter. Amalgamated Bank raised its stake in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after acquiring an additional 2,459 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Recursion Pharmaceuticals by 13.5% in the second quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after acquiring an additional 2,598 shares during the period. Hedge funds and other 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.