Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up - Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.88, but opened at $7.17. Recursion Pharmaceuticals shares last traded at $7.71, with a volume of 7,454,633 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RXRX shares. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. KeyCorp lowered their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $8.75.

Recursion Pharmaceuticals Stock Down 2.3 %

The company has a market cap of $2.87 billion, a price-to-earnings ratio of -4.81 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 stock has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $6.95.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.01). The company 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 quarterly revenue was up 147.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. As a group, analysts predict that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total value of $87,455.08. Following the sale, the director now owns 7,066,113 shares of the company's stock, valued at $53,985,103.32. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,894 shares of company stock worth $279,279 over the last ninety days. Company insiders own 15.75% of the company's stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in Recursion Pharmaceuticals by 53.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 80,943 shares of the company's stock valued at $547,000 after acquiring an additional 28,038 shares in the last quarter. Clear Creek Financial Management LLC grew its position in Recursion Pharmaceuticals by 57.6% during the fourth quarter. Clear Creek Financial Management LLC now owns 19,408 shares of the company's stock valued at $131,000 after purchasing an additional 7,095 shares in the last quarter. Institute for Wealth Management LLC. acquired a new position in Recursion Pharmaceuticals in the 4th quarter valued at approximately $3,928,000. Cherry Creek Investment Advisors Inc. lifted its position in Recursion Pharmaceuticals by 8.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 62,127 shares of the company's stock worth $420,000 after buying an additional 4,787 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Recursion Pharmaceuticals by 61.9% during the 4th quarter. KBC Group NV now owns 12,307 shares of the company's stock valued at $83,000 after buying an additional 4,705 shares during the period. Institutional investors and hedge funds 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.