Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 0.8% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares were up 0.8% on Friday . The stock traded as high as $6.42 and last traded at $6.41. Approximately 1,005,740 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 5,704,665 shares. The stock had previously closed at $6.36.

Analysts Set New Price Targets

A number of equities analysts recently commented on RXRX shares. Needham & Company LLC dropped their price target on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Jefferies Financial Group dropped their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, September 3rd. Leerink Partners decreased their price target on 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. Finally, KeyCorp dropped their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of "Hold" and an average target price of $9.40.

Recursion Pharmaceuticals Stock Up 1.9 %

The business has a fifty day moving average of $6.72 and a 200-day moving average of $7.73. The stock has a market cap of $1.82 billion, a PE ratio of -4.03 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $11.96 million. During the same period in the previous year, the company posted ($0.38) EPS. Recursion Pharmaceuticals's quarterly revenue was up 30.9% compared to the same quarter last year. Equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current year.

Insider Activity

In other news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total value of $45,360.00. Following the transaction, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,939,803.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Tina Marriott sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $7.56, for a total transaction of $45,360.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares in the company, valued at $3,939,803.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Blake Borgeson sold 11,447 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $6.82, for a total transaction of $78,068.54. Following the completion of the sale, the director now owns 7,144,216 shares of the company's stock, valued at approximately $48,723,553.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,682 shares of company stock worth $1,284,153. 15.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC lifted its stake in shares of Recursion Pharmaceuticals by 14.5% during the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company's stock worth $211,072,000 after buying an additional 3,555,357 shares during the period. Baillie Gifford & Co. grew its stake in Recursion Pharmaceuticals by 10.5% during the 2nd 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. Kinnevik AB publ increased its holdings 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 valued at $89,293,000 after purchasing an additional 1,500,000 shares during the period. Lingotto Investment Management LLP raised its stake in shares of Recursion Pharmaceuticals by 69.0% in the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company's stock worth $27,563,000 after purchasing an additional 1,500,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 12.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,362,803 shares of the company's stock worth $103,317,000 after purchasing an additional 1,159,023 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.