Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Unusually-High Trading Volume – Here’s Why

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw strong trading volume on Thursday . 19,902,525 shares were traded during mid-day trading, an increase of 15% from the previous session’s volume of 17,352,523 shares.The stock last traded at $7.93 and had previously closed at $7.92.

Analyst Ratings Changes

A number of research firms have recently issued reports on RXRX. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. 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.

Recursion Pharmaceuticals Stock Performance

The stock has a fifty day moving average price of $7.12 and a 200-day moving average price of $6.91. 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 firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -4.94 and a beta of 0.86.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced 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 return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same period in the prior year, the firm posted ($0.43) earnings per share. The business’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 Activity

In related news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were 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 owns 7,066,113 shares of the company’s stock, valued at approximately $53,985,103.32. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.75% of the stock is currently owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RXRX. ARK Investment Management LLC increased its position in shares of Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. State Street Corp raised its stake in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after buying an additional 4,120,685 shares during the period. FMR LLC lifted its position in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after buying an additional 170,810 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after acquiring an additional 656,003 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Recursion Pharmaceuticals by 17.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,274,003 shares of the company’s stock valued at $15,372,000 after acquiring an additional 333,323 shares during the period. Institutional investors 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.