Traders Buy High Volume of Call Options on Recursion Pharmaceuticals (NASDAQ:RXRX)

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw unusually large options trading on Friday. Traders bought 22,003 call options on the company. This is an increase of 239% compared to the typical daily volume of 6,490 call options.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note 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 research note on Wednesday, November 20th. Finally, Leerink Partners dropped their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Performance

Shares of NASDAQ:RXRX opened at $8.01 on Friday. Recursion Pharmaceuticals has a 52 week low of $5.60 and a 52 week high of $15.74. The stock has a market capitalization of $2.30 billion, a P/E ratio of -5.24 and a beta of 0.85. The firm has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $7.34. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS 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 business had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same period in the previous year, the business earned ($0.43) earnings per share. The business’s quarterly revenue was up 147.6% on a year-over-year basis. On average, analysts expect that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the completion of the transaction, the director now directly owns 7,066,113 shares of the company’s stock, valued at approximately $53,985,103.32. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Secora sold 15,000 shares of the firm’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 transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,235 shares of company stock valued at $895,538. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of large investors have recently made changes to their positions in RXRX. Allspring Global Investments Holdings LLC purchased a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $25,000. Farther Finance Advisors LLC boosted its stake in shares of Recursion Pharmaceuticals by 176.9% during the 3rd 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 period. GAMMA Investing LLC boosted its stake in shares of Recursion Pharmaceuticals by 1,588.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock worth $48,000 after purchasing an additional 6,036 shares during the period. KBC Group NV boosted its stake in shares of Recursion Pharmaceuticals by 79.9% during the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after purchasing an additional 3,377 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after purchasing an additional 2,459 shares during the period. 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.