Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Jumps 6.5% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares shot up 6.5% during mid-day trading on Wednesday. The stock traded as high as $4.24 and last traded at $4.3120. Approximately 1,847,473 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 19,474,332 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Several brokerages have weighed in on RXRX. Morgan Stanley set a $5.90 price objective on Recursion Pharmaceuticals in a report on Friday, October 16th. Wall Street Zen raised Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research report on Monday, October 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of “Hold” and an average target price of $8.18.

Recursion Pharmaceuticals Stock Up 8.8%

The company has a market cap of $2.36 billion, a P/E ratio of -4.24 and a beta of 1.04. The business has a fifty day moving average price of $3.69 and a 200-day moving average price of $3.55.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $7.67 million for the quarter, compared to the consensus estimate of $10.97 million. During the same period in the previous year, the firm earned ($0.41) EPS. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CEO Najat Khan sold 22,408 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $3.52, for a total transaction of $78,876.16. Following the completion of the sale, the chief executive officer directly owned 2,072,890 shares in the company, valued at $7,296,572.80. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 25,000 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $5.00, for a total value of $125,000.00. Following the completion of the transaction, the director owned 162,156 shares in the company, valued at approximately $810,780. This represents a 13.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 157,408 shares of company stock valued at $643,576. 6.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in Recursion Pharmaceuticals by 17.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 97,679 shares of the company’s stock worth $394,000 after purchasing an additional 14,176 shares during the period. Park Avenue Securities LLC bought a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $47,000. Prime Capital Investment Advisors LLC boosted its position in shares of Recursion Pharmaceuticals by 261.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 41,948 shares of the company’s stock worth $173,000 after purchasing an additional 30,354 shares in the last quarter. Abel Hall LLC grew its stake in shares of Recursion Pharmaceuticals by 73.1% in the 3rd quarter. Abel Hall LLC now owns 22,856 shares of the company’s stock valued at $94,000 after buying an additional 9,651 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Recursion Pharmaceuticals by 193.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 59,613 shares of the company’s stock valued at $243,000 after buying an additional 39,282 shares during the period. 89.06% of the stock is currently owned by institutional investors.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc is a biotechnology company that uses advanced computing, artificial intelligence and automated biology to discover and develop new medicines. The company’s platform, known as the Recursion Operating System, combines large-scale biological experimentation with machine learning and data analysis to identify potential drug candidates and characterize how diseases respond to treatments.

Recursion applies its technology to a range of therapeutic areas, including oncology, rare diseases, neuroscience and infectious diseases.