Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.88, but opened at $7.17. Recursion Pharmaceuticals shares last traded at $7.71, with a volume of 7,454,633 shares traded.

Wall Street Analysts Forecast Growth

RXRX has been the subject of a number of research analyst reports. KeyCorp reduced their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three 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, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $8.75.

Recursion Pharmaceuticals Stock Up 8.1 %

The firm has a fifty day moving average of $6.86 and a 200-day moving average of $6.94. 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 firm has a market cap of $2.91 billion, a P/E ratio of -4.86 and a beta of 0.85.

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). The business had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm’s revenue was up 147.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) earnings per share. On average, equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at $3,288,380.78. This represents a 1.14 % decrease in their position. The sale 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 business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, 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. Over the last 90 days, insiders sold 43,894 shares of company stock valued at $317,139. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Axxcess Wealth Management LLC lifted its stake in shares of Recursion Pharmaceuticals by 4.3% in the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after acquiring an additional 1,795 shares during the period. Green Alpha Advisors LLC increased its position in shares of Recursion Pharmaceuticals by 2.9% during the third quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock worth $427,000 after buying an additional 1,800 shares during the period. Wedmont Private Capital raised its stake in Recursion Pharmaceuticals by 10.6% during the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after buying an additional 2,000 shares during the last quarter. Amalgamated Bank lifted its holdings in Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after buying an additional 2,459 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Recursion Pharmaceuticals by 13.5% during the second 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 last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.