Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 8.1% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price was up 8.1% during mid-day trading on Thursday . The company traded as high as $7.40 and last traded at $7.31. Approximately 6,584,147 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 6,933,797 shares. The stock had previously closed at $6.76.

Analyst Ratings Changes

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

Recursion Pharmaceuticals Trading Up 8.2 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The business has a fifty day moving average of $6.87 and a 200-day moving average of $7.08. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -5.10 and a beta of 0.85.

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

Insider Activity

In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 in the company, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total transaction of $94,800.00. Following the sale, the chief financial officer now owns 1,426,506 shares of the company’s stock, valued at approximately $9,015,517.92. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,341 shares of company stock worth $488,290 over the last 90 days. 15.75% of the stock is owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after buying an additional 288,926 shares during the last quarter. FMR LLC boosted its stake in shares of Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after acquiring an additional 170,810 shares in the last quarter. State Street Corp raised its stake in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after purchasing an additional 656,003 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new stake in Recursion Pharmaceuticals during the second quarter worth approximately $5,769,000. 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.