Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Large Volume Increase – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw strong trading volume on Tuesday . 5,948,914 shares changed hands during trading, a decline of 12% from the previous session’s volume of 6,783,394 shares.The stock last traded at $7.17 and had previously closed at $6.99.

Analyst Ratings Changes

RXRX has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Leerink Partners decreased their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group cut their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.77 and a beta of 0.85. 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 has a 50 day simple moving average of $6.76 and a 200 day simple moving average of $7.16.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The company’s revenue for the quarter was up 147.6% compared to the same quarter last year. As a group, analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction 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 trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $7.00, for a total value of $42,000.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at $3,647,966. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,788 shares of company stock valued at $724,691 in the last quarter. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of 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 position in 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 purchasing an additional 14,060 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Recursion Pharmaceuticals during the second quarter valued at about $302,000. International Assets Investment Management LLC bought a new stake in shares of Recursion Pharmaceuticals in the second quarter valued at about $101,000. Finally, Commonwealth Equity Services LLC increased its stake in Recursion Pharmaceuticals by 25.7% during the second quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock valued at $332,000 after acquiring an additional 9,058 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.