Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 5.5% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price was up 5.5% on Monday . The stock traded as high as $6.50 and last traded at $6.36. Approximately 5,209,043 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 6,721,588 shares. The stock had previously closed at $6.03.

Wall Street Analyst Weigh In

Several brokerages have commented on RXRX. 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. Leerink Partners decreased their price target 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. Finally, Jefferies Financial Group cut their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Up 9.8 %

The company has a market cap of $1.90 billion, a P/E ratio of -4.33 and a beta of 0.85. The company’s 50-day moving average is $6.76 and its two-hundred day moving average is $7.18. 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 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 business had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same quarter in the prior year, the firm earned ($0.43) EPS. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 approximately $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total transaction of $71,200.34. Following the transaction, the director now owns 7,098,428 shares in the company, valued at $44,152,222.16. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,788 shares of company stock worth $724,691 over the last three months. 15.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Recursion Pharmaceuticals during the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC lifted its holdings in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after purchasing an additional 4,091 shares in the last quarter. KBC Group NV boosted its position in shares of Recursion Pharmaceuticals by 79.9% in the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after purchasing an additional 3,377 shares during the period. Amalgamated Bank increased 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 worth $54,000 after purchasing an additional 2,459 shares in the last quarter. Finally, San Luis Wealth Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter valued at $69,000. 89.06% of the stock is currently owned by hedge funds and other 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.