Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 6.9% - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price traded up 6.9% on Monday . The stock traded as high as $8.66 and last traded at $8.34. 12,568,478 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 14,385,466 shares. The stock had previously closed at $7.80.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average price is $6.89 and its 200 day moving average price is $7.03. The stock has a market cap of $3.11 billion, a PE ratio of -5.20 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 company had revenue of $26.08 million during the quarter, compared to analysts' expectations of $12.62 million. During the same quarter in the previous year, the firm earned ($0.43) EPS. The firm's revenue for the quarter was up 147.6% compared to the same quarter last year. As a group, equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Tina Marriott sold 6,000 shares of the business's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the sale, the chief operating officer now owns 521,138 shares in the company, valued at approximately $3,288,380.78. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,341 shares of company stock worth $488,290 in the last quarter. 15.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Recursion Pharmaceuticals by 20.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company's stock valued at $7,956,000 after purchasing an additional 178,994 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Recursion Pharmaceuticals by 39.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,863 shares of the company's stock valued at $374,000 after acquiring an additional 14,060 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Recursion Pharmaceuticals by 25.7% in the second quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company's stock valued at $332,000 after acquiring an additional 9,058 shares during the period. Rhumbline Advisers lifted its holdings in shares of Recursion Pharmaceuticals by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 281,348 shares of the company's stock worth $2,110,000 after acquiring an additional 54,576 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company's stock worth $164,000 after purchasing an additional 2,598 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.