Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 2.9% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s stock price traded up 2.9% during trading on Friday . The stock traded as high as $6.78 and last traded at $6.74. 1,143,568 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,760,654 shares. The stock had previously closed at $6.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RXRX shares. Needham & Company LLC cut their target price on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. KeyCorp cut their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, July 11th. Leerink Partners lowered their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group cut their price target 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.40.

Recursion Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $6.71 and a 200 day simple moving average of $7.79. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.07 and a current ratio of 6.07.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $11.96 million. During the same quarter last year, the company earned ($0.38) earnings per share. The company's quarterly revenue was up 30.9% compared to the same quarter last year. Equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christopher Gibson sold 30,000 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $7.10, for a total transaction of $213,000.00. Following the transaction, the chief executive officer now owns 758,738 shares in the company, valued at approximately $5,387,039.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher Gibson sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.10, for a total transaction of $213,000.00. Following the completion of the sale, the chief executive officer now owns 758,738 shares in the company, valued at $5,387,039.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $8.13, for a total value of $48,780.00. Following the transaction, the chief operating officer now directly owns 535,457 shares in the company, valued at $4,353,265.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,129 shares of company stock valued at $1,430,004 in the last ninety days. 15.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its stake in Recursion Pharmaceuticals by 14.5% in the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company's stock valued at $211,072,000 after purchasing an additional 3,555,357 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Recursion Pharmaceuticals by 10.5% during the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company's stock valued at $199,425,000 after purchasing an additional 2,522,132 shares during the last quarter. Vanguard Group Inc. boosted its position in Recursion Pharmaceuticals by 2.2% during the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company's stock worth $159,667,000 after purchasing an additional 349,554 shares during the period. Kinnevik AB publ increased its stake in shares of Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company's stock worth $89,293,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Recursion Pharmaceuticals by 12.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,362,803 shares of the company's stock worth $103,110,000 after purchasing an additional 1,159,023 shares in 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.