Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 5.3% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price shot up 5.3% during mid-day trading on Friday . The company traded as high as $7.68 and last traded at $7.59. 5,773,886 shares changed hands during trading, a decline of 46% from the average session volume of 10,779,051 shares. The stock had previously closed at $7.21.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $3.05 billion, a P/E ratio of -5.10 and a beta of 0.85. The stock has a fifty day moving average price of $6.87 and a two-hundred day moving average price of $7.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly 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 return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same quarter last year, the firm posted ($0.43) EPS. The company’s revenue was up 147.6% compared to the same quarter last year. On average, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’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 transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,341 shares of company stock worth $488,290. 15.75% of the stock is owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Recursion Pharmaceuticals by 20.3% in the second quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company’s stock worth $7,956,000 after buying an additional 178,994 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Recursion Pharmaceuticals by 39.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,863 shares of the company’s stock worth $374,000 after acquiring an additional 14,060 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Recursion Pharmaceuticals by 25.7% during the second quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock worth $332,000 after purchasing an additional 9,058 shares during the period. Rhumbline Advisers lifted its holdings in shares of Recursion Pharmaceuticals by 24.1% during the second quarter. Rhumbline Advisers now owns 281,348 shares of the company’s stock valued at $2,110,000 after purchasing an additional 54,576 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Recursion Pharmaceuticals by 13.5% in the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock valued at $164,000 after purchasing an additional 2,598 shares during the period. 89.06% of the stock is currently owned by institutional investors.

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.