Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 5.3% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 5.3% on Friday . The company traded as high as $7.68 and last traded at $7.59. Approximately 5,773,886 shares changed hands during trading, a decline of 46% from the average daily volume of 10,779,051 shares. The stock had previously closed at $7.21.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Stock Up 6.8 %

The stock has a 50 day simple moving average of $6.84 and a 200 day simple moving average of $7.09. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -5.03 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data 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). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same period last year, the business posted ($0.43) earnings per share. The firm’s quarterly revenue was up 147.6% on a year-over-year basis. As a group, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $6.31, for a total transaction of $37,860.00. Following the transaction, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at $3,288,380.78. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,341 shares of company stock valued at $488,290. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Axxcess Wealth Management LLC grew its holdings 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 during the period. Green Alpha Advisors LLC grew its stake in shares of Recursion Pharmaceuticals by 2.9% during the 3rd 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 during the period. Amalgamated Bank increased its holdings in Recursion Pharmaceuticals by 52.4% in the 2nd 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. raised its stake in 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 acquiring an additional 2,598 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Recursion Pharmaceuticals by 5.3% during the third 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. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.