Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 6.8% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) rose 6.8% on Monday . The company traded as high as $7.85 and last traded at $7.42. Approximately 8,747,497 shares changed hands during trading, an increase of 35% from the average daily volume of 6,502,181 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

A number of research firms have recently issued reports on RXRX. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Leerink Partners cut their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.25.

Recursion Pharmaceuticals Stock Performance

The company has a fifty day moving average of $6.76 and a two-hundred day moving average of $7.24. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -4.86 and a beta of 0.85. 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 posted its earnings results 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 firm 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 business posted ($0.43) EPS. The firm's quarterly revenue was up 147.6% compared to the same quarter last year. As a group, equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, CEO Christopher Gibson sold 20,000 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total transaction of $123,200.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares of the company's stock, valued at $4,697,960.96. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $6.84, for a total transaction of $78,297.48. Following the sale, the director now owns 7,109,875 shares in the company, valued at $48,631,545. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,235 shares of company stock valued at $802,988. 15.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company's stock valued at $12,789,000 after purchasing an additional 288,926 shares in the last quarter. FMR LLC boosted its position in Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock valued at $55,116,000 after buying an additional 170,810 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals during the second quarter worth $5,769,000. Pier 88 Investment Partners LLC increased its holdings in shares of Recursion Pharmaceuticals by 442.1% during the third quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company's stock worth $882,000 after buying an additional 109,210 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Recursion Pharmaceuticals by 6,439.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 169,900 shares of the company's stock valued at $1,274,000 after acquiring an additional 167,302 shares during the last quarter. 89.06% of the stock is currently owned by 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.