Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 3.7% - Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares rose 3.7% during trading on Tuesday . The company traded as high as $7.20 and last traded at $7.02. Approximately 4,972,649 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 6,902,442 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

A number of brokerages have weighed in on RXRX. Jefferies Financial Group lowered their price objective 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. 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, December 11th. Finally, Leerink Partners reduced their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of "Hold" and an average target price of $9.25.

Recursion Pharmaceuticals Price Performance

The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -4.42 and a beta of 0.85. The company has a 50 day simple moving average of $6.81 and a 200-day simple moving average of $7.11. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

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 the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $26.08 million for the quarter, compared to analyst estimates 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 revenue was up 147.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.43) earnings per share. As a group, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other news, CFO Michael Secora sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $6.31, for a total value of $37,860.00. Following the transaction, the chief operating officer now owns 521,138 shares of the company's stock, valued at $3,288,380.78. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,341 shares of company stock worth $611,490. 15.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently modified their holdings of RXRX. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp boosted its position in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock worth $84,815,000 after buying an additional 4,120,685 shares during the period. Lingotto Investment Management LLP boosted its position in shares of Recursion Pharmaceuticals by 69.0% during the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company's stock worth $27,563,000 after buying an additional 1,500,000 shares during the period. Ghisallo Capital Management LLC acquired a new stake in Recursion Pharmaceuticals in the 2nd quarter valued at approximately $8,250,000. Finally, Perceptive Advisors LLC bought a new stake in Recursion Pharmaceuticals during the 2nd quarter valued at $5,769,000. 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.