Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 3.7% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRXGet Free Report) shares rose 3.7% on Tuesday . The company traded as high as $7.20 and last traded at $7.02. Approximately 4,972,649 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 6,902,442 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RXRX. Leerink Partners lowered their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. 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. Finally, Jefferies Financial Group cut their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.25.

View Our Latest Analysis on RXRX

Recursion Pharmaceuticals Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The firm has a market capitalization of $1.95 billion, a P/E ratio of -4.44 and a beta of 0.85. The firm has a 50 day moving average price of $6.81 and a two-hundred day moving average price of $7.11.

Recursion Pharmaceuticals (NASDAQ:RXRXGet Free Report) last released 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 company had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. On average, equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,341 shares of company stock valued at $611,490 over the last ninety days. Corporate insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. ARK Investment Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after buying an additional 4,626,268 shares during the period. State Street Corp boosted its position in Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Lingotto Investment Management LLP grew its stake in Recursion Pharmaceuticals by 69.0% in the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after purchasing an additional 1,500,000 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in Recursion Pharmaceuticals in the 2nd quarter worth about $8,250,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals during the 2nd quarter worth about $5,769,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

About Recursion Pharmaceuticals

(Get Free Report)

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.

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