Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) gapped up prior to trading on Friday . The stock had previously closed at $4.51, but opened at $5.00. Recursion Pharmaceuticals shares last traded at $5.78, with a volume of 20,683,590 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RXRX. Leerink Partners cut their price objective on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Tuesday, April 8th. KeyCorp decreased their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.20.

Recursion Pharmaceuticals Price Performance

The company’s fifty day moving average is $6.83 and its two-hundred day moving average is $6.84. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -3.76 and a beta of 1.00.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). The company had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue for the quarter was down 57.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) EPS. Equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its holdings in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock valued at $2,774,000 after buying an additional 1,300 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares during the period. Summit Investment Advisors Inc. raised its position in Recursion Pharmaceuticals by 7.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after buying an additional 1,875 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Recursion Pharmaceuticals by 10.6% in the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Recursion Pharmaceuticals by 28.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,135 shares of the company’s stock worth $69,000 after purchasing an additional 2,235 shares in the last quarter. 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.