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

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.22, but opened at $6.51. Recursion Pharmaceuticals shares last traded at $6.23, with a volume of 3,185,899 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on RXRX shares. Leerink Partners dropped 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 dropped their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.25.

Recursion Pharmaceuticals Price Performance

The stock has a market capitalization of $1.75 billion, a PE ratio of -3.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The stock's fifty day moving average is $6.77 and its 200-day moving average is $7.22.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $26.08 million for the quarter, compared to analysts' expectations of $12.62 million. During the same period in the previous year, the company earned ($0.43) earnings per share. The company's revenue was up 147.6% compared to the same quarter last year. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CEO Christopher Gibson sold 20,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total value of $123,200.00. Following the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. The trade was a 2.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $7.00, for a total value of $42,000.00. Following the sale, the chief operating officer now owns 521,138 shares of the company's stock, valued at approximately $3,647,966. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,788 shares of company stock valued at $724,691. Company insiders own 15.75% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company's stock worth $12,789,000 after buying an additional 288,926 shares in the last quarter. FMR LLC grew its stake in Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company's stock valued at $55,116,000 after acquiring an additional 170,810 shares in the last quarter. State Street Corp raised its holdings in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after acquiring an additional 4,120,685 shares during the last quarter. Perceptive Advisors LLC purchased a new position in Recursion Pharmaceuticals in the 2nd quarter worth approximately $5,769,000. Finally, Pier 88 Investment Partners LLC boosted its holdings in shares of Recursion Pharmaceuticals by 442.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company's stock worth $882,000 after purchasing an additional 109,210 shares during the last quarter. 89.06% of the stock is 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.