Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 6.4% Higher – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price was up 6.4% on Friday . The company traded as high as $8.07 and last traded at $8.01. Approximately 6,172,864 shares changed hands during trading, a decline of 61% from the average daily volume of 15,742,962 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RXRX shares. KeyCorp lowered their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.75.

Recursion Pharmaceuticals Trading Up 4.9 %

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 $3.09 billion, a PE ratio of -5.17 and a beta of 0.85. The stock’s 50-day simple moving average is $6.88 and its 200-day simple moving average is $6.95.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its 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). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. During the same quarter last year, the company posted ($0.43) EPS. The firm’s revenue was up 147.6% on a year-over-year basis. As a group, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The stock was 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 of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the sale, the director now directly owns 7,066,113 shares in the company, valued at $53,985,103.32. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,894 shares of company stock worth $279,279. 15.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after acquiring an additional 288,926 shares in the last quarter. FMR LLC raised its stake in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Recursion Pharmaceuticals during the fourth quarter valued at $580,000. State Street Corp raised its position in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after acquiring an additional 656,003 shares during the period. 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.