Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 0.6% Higher - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) traded up 0.6% during mid-day trading on Thursday . The stock traded as high as $6.53 and last traded at $6.26. 6,932,748 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 6,639,027 shares. The stock had previously closed at $6.22.

Analyst Upgrades and Downgrades

RXRX has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, September 3rd. Leerink Partners dropped their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $6.77 and a 200-day simple moving average of $7.22. The company has a market cap of $1.75 billion, a P/E ratio of -3.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) 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 company had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same period last year, the firm earned ($0.43) earnings per share. The firm's revenue for the quarter was up 147.6% on a year-over-year basis. On average, sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $7.00, for a total transaction of $42,000.00. Following the completion of the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at approximately $3,647,966. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total value of $71,200.34. Following the completion of the transaction, the director now directly owns 7,098,428 shares in the company, valued at approximately $44,152,222.16. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,788 shares of company stock worth $724,691. 15.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Recursion Pharmaceuticals during the second quarter valued at about $192,000. Baillie Gifford & Co. raised its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Recursion Pharmaceuticals by 20.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company's stock worth $7,956,000 after purchasing an additional 178,994 shares during the last quarter. Liontrust Investment Partners LLP boosted its position in Recursion Pharmaceuticals by 32.0% during the second quarter. Liontrust Investment Partners LLP now owns 990,000 shares of the company's stock worth $7,425,000 after purchasing an additional 240,000 shares during the period. Finally, ARK Investment Management LLC grew its holdings in Recursion Pharmaceuticals by 14.5% during the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company's stock valued at $211,072,000 after purchasing an additional 3,555,357 shares during the last quarter. Institutional investors and hedge funds 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.