Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 1.9% – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price shot up 1.9% during mid-day trading on Wednesday . The company traded as high as $6.86 and last traded at $6.80. 649,992 shares were traded during trading, a decline of 89% from the average session volume of 5,768,884 shares. The stock had previously closed at $6.67.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RXRX. Jefferies Financial Group reduced their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC decreased their price objective on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Leerink Partners dropped their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Tuesday, September 3rd. Finally, KeyCorp cut their target price on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Stock Performance

The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -4.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. The firm has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $7.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). The firm had revenue of $14.42 million during the quarter, compared to analyst estimates of $11.96 million. Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. Recursion Pharmaceuticals’s revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) earnings per share. On average, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total transaction of $97,070.56. Following the sale, the director now owns 7,155,663 shares in the company, valued at approximately $60,680,022.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $8.48, for a total transaction of $97,070.56. Following the transaction, the director now owns 7,155,663 shares in the company, valued at $60,680,022.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total value of $94,800.00. Following the completion of the sale, the chief financial officer now owns 1,426,506 shares in the company, valued at approximately $9,015,517.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,129 shares of company stock valued at $1,430,004. 15.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC grew its stake in Recursion Pharmaceuticals by 14.5% during the 2nd quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock valued at $211,072,000 after acquiring an additional 3,555,357 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Recursion Pharmaceuticals by 10.5% during the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after purchasing an additional 2,522,132 shares during the last quarter. Kinnevik AB publ grew its position in shares of Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after purchasing an additional 1,500,000 shares in the last quarter. Lingotto Investment Management LLP increased its holdings in shares of 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 during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Recursion Pharmaceuticals by 12.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,362,803 shares of the company’s stock worth $103,317,000 after buying an additional 1,159,023 shares in the last quarter. 89.06% of the stock is 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.