Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 1% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) rose 1% during mid-day trading on Tuesday . The stock traded as high as $7.25 and last traded at $7.06. Approximately 7,639,385 shares changed hands during trading, an increase of 12% from the average daily volume of 6,791,037 shares. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Leerink Partners cut 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 note on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Recursion Pharmaceuticals presently has an average rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $6.78 and its 200-day simple moving average is $7.16. 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 stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85.

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

Insider Buying and Selling

In other news, CFO Michael Secora sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the completion of the sale, the director now owns 7,066,113 shares of the company’s stock, valued at approximately $53,985,103.32. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,788 shares of company stock valued at $682,691. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Axxcess Wealth Management LLC grew its stake in Recursion Pharmaceuticals by 4.3% during the third quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after buying an additional 1,795 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Recursion Pharmaceuticals by 2.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company’s stock worth $427,000 after acquiring an additional 1,800 shares in the last quarter. Interchange Capital Partners LLC increased its stake in Recursion Pharmaceuticals by 7.3% in the second quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company’s stock valued at $268,000 after acquiring an additional 2,349 shares during the last quarter. Amalgamated Bank raised its position in Recursion Pharmaceuticals by 52.4% during the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Recursion Pharmaceuticals by 13.5% during the second quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock worth $164,000 after purchasing an additional 2,598 shares during the last quarter. 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.