Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 2.1%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as $6.22 and last traded at $6.20. 2,003,388 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 5,965,582 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

Several research firms have weighed in on RXRX. Needham & Company LLC lowered their target price on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. Leerink Partners lowered their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday. KeyCorp dropped their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Jefferies Financial Group lowered their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of “Hold” and an average target price of $9.40.

Recursion Pharmaceuticals Stock Performance

The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -3.83 and a beta of 0.82. The firm’s 50 day moving average is $7.36 and its 200-day moving average is $8.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.07 and a current ratio of 6.07.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The company had revenue of $14.42 million during the quarter, compared to analyst estimates of $11.96 million. Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. Recursion Pharmaceuticals’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.38) EPS. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total value of $96,727.15. Following the transaction, the director now owns 7,188,563 shares of the company’s stock, valued at $60,743,357.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Tina Marriott sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total value of $45,360.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at $3,939,803.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $8.45, for a total transaction of $96,727.15. Following the completion of the sale, the director now owns 7,188,563 shares in the company, valued at approximately $60,743,357.35. The disclosure for this sale can be found here. Insiders sold 223,129 shares of company stock valued at $1,687,045 over the last 90 days. 15.75% of the stock is currently owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Mubadala Investment Co PJSC acquired a new position in shares of Recursion Pharmaceuticals during the fourth quarter valued at about $128,041,000. Gladstone Institutional Advisory LLC acquired a new position in Recursion Pharmaceuticals in the 4th quarter valued at approximately $133,000. Capstone Investment Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals in the 1st quarter worth approximately $161,000. Norges Bank acquired a new stake in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $34,825,000. Finally, UBS Group AG increased its position in shares of Recursion Pharmaceuticals by 101.9% during the fourth quarter. UBS Group AG now owns 691,911 shares of the company’s stock valued at $6,822,000 after purchasing an additional 349,232 shares during the period. 89.06% of the stock is owned by institutional investors.

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.