Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 5.5% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shot up 5.5% on Wednesday . The stock traded as high as $6.11 and last traded at $5.94. 8,951,025 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 12,114,125 shares. The stock had previously closed at $5.63.

Wall Street Analyst Weigh In

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

Recursion Pharmaceuticals Price Performance

The business has a fifty day moving average of $6.31 and a 200 day moving average of $6.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The stock has a market cap of $2.32 billion, a PE ratio of -3.77 and a beta of 1.00.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.17). The company had revenue of $4.60 million during the quarter, compared to analyst estimates of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company's revenue was down 57.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.42) earnings per share. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Softbank Group CORP. bought a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $99,152,000. Novo Holdings A S acquired a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $68,375,000. Vanguard Group Inc. raised its stake in Recursion Pharmaceuticals by 40.1% during the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock worth $229,908,000 after acquiring an additional 9,737,196 shares during the period. Norges Bank bought a new position in Recursion Pharmaceuticals in the fourth quarter worth about $23,429,000. Finally, Laurion Capital Management LP acquired a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $16,611,000. 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.