Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 9% Higher - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s stock price shot up 9% on Thursday . The stock traded as high as $7.89 and last traded at $7.80. 12,984,144 shares were traded during mid-day trading, a decline of 22% from the average session volume of 16,672,463 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. 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. KeyCorp cut their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th.

Recursion Pharmaceuticals Price Performance

The stock's fifty day simple moving average is $7.03 and its 200-day simple moving average is $6.92. 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 released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $26.08 million during the quarter, compared to analysts' expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The business's revenue for the quarter was up 147.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) earnings per share. As a group, sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Secora sold 15,000 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total value of $87,455.08. Following the sale, the director now owns 7,066,113 shares of the company's stock, valued at approximately $53,985,103.32. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.75% of the company's stock.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC grew its holdings in Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp boosted its holdings in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. FMR LLC grew its stake in shares of Recursion Pharmaceuticals by 2.1% during the 3rd 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 during the period. Geode Capital Management LLC increased its holdings in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock worth $35,803,000 after buying an additional 656,003 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Recursion Pharmaceuticals by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,140,750 shares of the company's stock worth $14,108,000 after buying an additional 43,078 shares during the period. Institutional investors and hedge funds 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.