Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 6.4% Higher - Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) traded up 6.4% during mid-day trading on Friday . The stock traded as high as $8.07 and last traded at $8.01. 6,172,864 shares were traded during trading, a decline of 61% from the average session volume of 15,742,962 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

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

Recursion Pharmaceuticals Stock Down 2.7 %

The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -4.79 and a beta of 0.85. The stock's 50 day moving average is $6.90 and its 200 day moving average is $6.95. 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 issued 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). The firm had revenue of $26.08 million for 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 revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) earnings per share. Analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling

In other news, Director Blake Borgeson sold 11,447 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total transaction of $87,455.08. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Secora sold 15,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,894 shares of company stock valued at $279,279 over the last three months. 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 modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Recursion Pharmaceuticals by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company's stock worth $12,789,000 after purchasing an additional 288,926 shares in the last quarter. FMR LLC boosted its position in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock worth $55,116,000 after buying an additional 170,810 shares during the period. Avanza Fonder AB purchased a new position in shares of Recursion Pharmaceuticals during the fourth quarter valued at $580,000. State Street Corp raised its position in Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after buying an additional 4,120,685 shares during the period. Finally, Geode Capital Management LLC raised its position in Recursion Pharmaceuticals by 13.7% during the third 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 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.