Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 9% – What’s Next?

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shot up 9% during trading on Thursday . The company traded as high as $7.89 and last traded at $7.80. 12,984,144 shares traded hands during trading, a decline of 22% from the average session volume of 16,672,463 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

RXRX has been the topic of a number of research reports. KeyCorp decreased their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th.

Recursion Pharmaceuticals Stock Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $7.03 and its 200 day simple moving average is $6.93. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) EPS. As a group, analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In related news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total value of $87,455.08. Following the completion of the transaction, the director now directly owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the sale, the chief financial officer now owns 1,499,631 shares in the company, valued at $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its position in shares of Recursion Pharmaceuticals by 26.0% during the 2nd quarter. Hsbc Holdings PLC now owns 27,972 shares of the company’s stock worth $206,000 after purchasing an additional 5,764 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Recursion Pharmaceuticals by 32.6% in the second quarter. The Manufacturers Life Insurance Company now owns 111,613 shares of the company’s stock valued at $837,000 after buying an additional 27,440 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 2nd quarter valued at $129,000. SG Americas Securities LLC lifted its stake in Recursion Pharmaceuticals by 249.0% during the 3rd quarter. SG Americas Securities LLC now owns 89,325 shares of the company’s stock worth $589,000 after acquiring an additional 63,727 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Recursion Pharmaceuticals by 33.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,500 shares of the company’s stock valued at $458,000 after acquiring an additional 17,400 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.