Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 8.6% - Should You Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) rose 8.6% during mid-day trading on Friday . The company traded as high as $7.00 and last traded at $6.93. Approximately 8,084,092 shares were traded during trading, an increase of 35% from the average daily volume of 6,003,390 shares. The stock had previously closed at $6.38.

Analyst Ratings Changes

Several analysts have commented on the company. Leerink Partners reduced their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group cut their price target 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 reaffirmed a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a market cap of $2.03 billion, a price-to-earnings ratio of -4.62 and a beta of 0.81. The company has a 50-day simple moving average of $6.57 and a 200-day simple moving average of $7.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share 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 for the quarter, compared to analyst estimates of $12.62 million. During the same period in the prior year, the company earned ($0.43) EPS. The company's revenue was up 147.6% on a year-over-year basis. As a group, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In related news, Director Blake Borgeson sold 11,447 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.27, for a total value of $71,772.69. Following the completion of the transaction, the director now directly owns 7,121,322 shares of the company's stock, valued at $44,650,688.94. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction 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 transaction, the chief operating officer now directly owns 521,138 shares of the company's stock, valued at approximately $3,647,966. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,682 shares of company stock worth $1,088,111 in the last 90 days. 15.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ARK Investment Management LLC increased its position 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 worth $215,949,000 after purchasing an additional 4,626,268 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Recursion Pharmaceuticals by 10.5% in the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company's stock valued at $199,425,000 after acquiring an additional 2,522,132 shares during the last quarter. Vanguard Group Inc. lifted its position in Recursion Pharmaceuticals by 2.2% during the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company's stock worth $159,667,000 after buying an additional 349,554 shares during the period. State Street Corp grew 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 buying an additional 4,120,685 shares during the period. Finally, Kinnevik AB publ grew its holdings in Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company's stock valued at $89,293,000 after purchasing an additional 1,500,000 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.