Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume - Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) saw an uptick in trading volume on Tuesday . 5,948,914 shares changed hands during trading, a decline of 12% from the previous session's volume of 6,783,394 shares.The stock last traded at $7.17 and had previously closed at $6.99.

Analysts Set New Price Targets

RXRX has been the topic of a number of analyst reports. Leerink Partners cut their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Jefferies Financial Group decreased their price target on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research report 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Up 3.6 %

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $6.76 and a 200-day moving average of $7.16.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to analysts' expectations of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm's revenue for the quarter was up 147.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) EPS. On average, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of 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. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.22, for a total transaction of $71,200.34. Following the transaction, the director now directly owns 7,098,428 shares of the company's stock, valued at approximately $44,152,222.16. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,788 shares of company stock valued at $724,691. 15.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Recursion Pharmaceuticals by 58.9% during the 3rd quarter. Franklin Resources Inc. now owns 18,963 shares of the company's stock valued at $127,000 after acquiring an additional 7,027 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth approximately $89,000. Geode Capital Management LLC lifted its position in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock valued at $35,803,000 after buying an additional 656,003 shares in the last quarter. Barclays PLC grew its stake in Recursion Pharmaceuticals by 53.9% in the 3rd quarter. Barclays PLC now owns 697,432 shares of the company's stock valued at $4,596,000 after acquiring an additional 244,278 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Recursion Pharmaceuticals during the 3rd quarter worth approximately $692,000. Hedge funds and other 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.