Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 3.7% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price shot up 3.7% during trading on Tuesday . The stock traded as high as $7.20 and last traded at $7.02. 4,972,649 shares traded hands during trading, a decline of 28% from the average session volume of 6,902,442 shares. The stock had previously closed at $6.77.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.25.

Recursion Pharmaceuticals Stock Performance

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 stock’s fifty day moving average is $6.82 and its two-hundred day moving average is $7.09. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.42 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, analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $6.32, for a total transaction of $94,800.00. Following the transaction, the chief financial officer now directly owns 1,426,506 shares of the company’s stock, valued at approximately $9,015,517.92. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders sold 70,341 shares of company stock worth $488,290 over the last three months. Insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in Recursion Pharmaceuticals in the third quarter valued at about $25,000. Farther Finance Advisors LLC raised its holdings in Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after buying an additional 4,091 shares during the last quarter. KBC Group NV raised its position in shares of Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after acquiring an additional 3,377 shares in the last quarter. Amalgamated Bank boosted its position in shares of Recursion Pharmaceuticals by 52.4% during the 2nd 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 stake in Recursion Pharmaceuticals during the third quarter worth approximately $69,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.