Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 1.4% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price rose 1.4% during trading on Thursday . The company traded as high as $6.72 and last traded at $6.68. Approximately 6,934,035 shares changed hands during trading, a decline of 73% from the average daily volume of 25,620,480 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

RXRX has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. KeyCorp lowered 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. Leerink Partners reduced their price objective on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Friday, February 28th. Finally, Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Recursion Pharmaceuticals currently has an average rating of "Hold" and a consensus target price of $8.25.

Recursion Pharmaceuticals Price Performance

The company has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $7.07. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -4.31 and a beta of 0.85. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

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Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $4.60 million during the quarter, compared to analyst estimates of $19.04 million. During the same period in the prior year, the business earned ($0.42) EPS. The business's revenue for the quarter was down 57.8% compared to the same quarter last year. Research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently modified their holdings of RXRX. Private Advisor Group LLC grew its holdings in shares of Recursion Pharmaceuticals by 28.6% in the 3rd quarter. Private Advisor Group LLC now owns 15,419 shares of the company's stock valued at $102,000 after acquiring an additional 3,432 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company's stock valued at $42,000 after acquiring an additional 4,091 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Recursion Pharmaceuticals in the 3rd quarter valued at about $120,000. Privium Fund Management B.V. grew its holdings in shares of Recursion Pharmaceuticals by 50.0% in the 3rd quarter. Privium Fund Management B.V. now owns 78,000 shares of the company's stock valued at $514,000 after acquiring an additional 26,000 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 4.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company's stock valued at $289,000 after acquiring an additional 1,795 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.