Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up - Should You 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 $7.46, but opened at $7.89. Recursion Pharmaceuticals shares last traded at $7.53, with a volume of 2,242,941 shares changing hands.

Analysts Set New Price Targets

RXRX has been the topic of several recent 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 research note on Tuesday, September 3rd. Jefferies Financial Group reduced their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Wednesday. 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 presently has an average rating of "Hold" and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The firm has a market capitalization of $2.17 billion, a P/E ratio of -4.95 and a beta of 0.85. The stock has a fifty day moving average price of $6.70 and a two-hundred day moving average price of $7.29.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly 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). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. During the same quarter in the previous year, the business posted ($0.43) earnings per share. The company's quarterly revenue was up 147.6% compared to the same quarter last year. Research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling

In other news, Director Blake Borgeson sold 11,447 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.84, for a total transaction of $78,297.48. Following the completion of the transaction, the director now directly owns 7,109,875 shares in the company, valued at approximately $48,631,545. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,697,960.96. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,235 shares of company stock valued at $802,988. Insiders own 15.75% of the company's stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC boosted its stake in Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company's stock valued at $289,000 after purchasing an additional 1,795 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in Recursion Pharmaceuticals by 2.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 64,799 shares of the company's stock valued at $427,000 after purchasing an additional 1,800 shares in the last quarter. Interchange Capital Partners LLC boosted its stake in Recursion Pharmaceuticals by 7.3% during the 2nd quarter. Interchange Capital Partners LLC now owns 34,580 shares of the company's stock valued at $268,000 after purchasing an additional 2,349 shares in the last quarter. Amalgamated Bank boosted its stake in Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company's stock valued at $54,000 after purchasing an additional 2,459 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company's stock valued at $164,000 after purchasing an additional 2,598 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

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.