Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 5.4% Higher - Here's What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shot up 5.4% on Tuesday . The stock traded as high as $5.85 and last traded at $5.81. 3,085,222 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 11,835,804 shares. The stock had previously closed at $5.51.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. KeyCorp dropped their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Morgan Stanley decreased their target price on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Cowen reissued a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Leerink Partners dropped their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Friday, February 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.20.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The business's fifty day moving average price is $6.62 and its 200-day moving average price is $6.79. The stock has a market cap of $2.21 billion, a PE ratio of -3.59 and a beta of 1.00.

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 analysts' consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm had revenue of $4.60 million during the quarter, compared to analysts' expectations of $19.04 million. During the same quarter last year, the business earned ($0.42) earnings per share. The business's quarterly revenue was down 57.8% on a year-over-year basis. As a group, equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RXRX. Decker Retirement Planning Inc. purchased a new position in Recursion Pharmaceuticals during the 4th quarter valued at approximately $26,000. Private Trust Co. NA bought a new position in Recursion Pharmaceuticals in the 4th quarter valued at $27,000. GAMMA Investing LLC lifted its holdings in Recursion Pharmaceuticals by 1,979.2% during the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock valued at $35,000 after buying an additional 4,948 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock valued at $52,000 after acquiring an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Recursion Pharmaceuticals by 43.7% during the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after purchasing an additional 2,387 shares in the last quarter. 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.