Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.22, but opened at $6.51. Recursion Pharmaceuticals shares last traded at $6.23, with a volume of 3,185,899 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, September 3rd. Leerink Partners dropped 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a market capitalization of $1.73 billion, a PE ratio of -3.94 and a beta of 0.85. 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 stock has a 50 day moving average price of $6.76 and a two-hundred day moving average price of $7.20.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. During the same quarter last year, the firm earned ($0.43) earnings per share. Recursion Pharmaceuticals’s revenue was up 147.6% compared to the same quarter last year. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,788 shares of company stock worth $724,691 over the last three months. Corporate insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

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

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.