Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 9% - Here's Why

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

Analysts Set New Price Targets

Several brokerages recently commented on RXRX. KeyCorp dropped their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th.

Recursion Pharmaceuticals Price Performance

The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -4.97 and a beta of 0.86. 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's 50 day simple moving average is $7.06 and its two-hundred day simple moving average is $6.90.

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). The business had revenue of $26.08 million during the quarter, compared to the consensus estimate 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 was up 147.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.43) EPS. On average, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in Recursion Pharmaceuticals by 170.4% in the 4th quarter. IFP Advisors Inc now owns 11,831 shares of the company's stock worth $80,000 after purchasing an additional 7,455 shares during the last quarter. Colonial River Investments LLC acquired a new position in shares of Recursion Pharmaceuticals during the fourth quarter valued at $68,000. Handelsbanken Fonder AB increased its position in Recursion Pharmaceuticals by 5.9% in the fourth quarter. Handelsbanken Fonder AB now owns 73,600 shares of the company's stock worth $498,000 after purchasing an additional 4,100 shares during the period. Private Advisor Group LLC lifted its stake in shares of Recursion Pharmaceuticals by 103.8% in the 4th quarter. Private Advisor Group LLC now owns 31,427 shares of the company's stock valued at $212,000 after purchasing an additional 16,008 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Recursion Pharmaceuticals by 31.5% during the fourth quarter. Global Retirement Partners LLC now owns 31,297 shares of the company's stock worth $212,000 after buying an additional 7,500 shares during the last quarter. Institutional investors 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.