Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 10.8% Higher – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shot up 10.8% during trading on Thursday . The company traded as high as $3.49 and last traded at $3.5350. 4,967,503 shares were traded during mid-day trading, a decline of 72% from the average session volume of 17,795,248 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Morgan Stanley set a $5.30 target price on shares of Recursion Pharmaceuticals in a research note on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $8.06.

Recursion Pharmaceuticals Stock Performance

The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $3.26 and a 200 day moving average price of $3.32. The firm has a market cap of $1.85 billion, a PE ratio of -3.33 and a beta of 1.07.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. The firm had revenue of $7.67 million for the quarter, compared to analyst estimates of $10.97 million. During the same period in the previous year, the firm posted ($0.41) EPS. As a group, equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Najat Khan sold 22,408 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total value of $78,876.16. Following the completion of the sale, the chief executive officer owned 2,072,890 shares of the company’s stock, valued at $7,296,572.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Blake Borgeson sold 40,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $3.96, for a total transaction of $158,400.00. Following the sale, the director directly owned 6,218,287 shares in the company, valued at approximately $24,624,416.52. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 122,408 shares of company stock worth $434,976 over the last quarter. 6.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. Norges Bank purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth $23,473,000. Lingotto Investment Management LLP raised its holdings in Recursion Pharmaceuticals by 34.2% in the 4th quarter. Lingotto Investment Management LLP now owns 4,931,057 shares of the company’s stock valued at $20,168,000 after buying an additional 1,255,980 shares during the period. First Trust Advisors LP lifted its position in Recursion Pharmaceuticals by 15.2% in the first quarter. First Trust Advisors LP now owns 2,610,726 shares of the company’s stock valued at $8,015,000 after buying an additional 344,035 shares during the last quarter. Bank of America Corp DE lifted its position in Recursion Pharmaceuticals by 18.2% in the first quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock valued at $7,665,000 after buying an additional 384,486 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Recursion Pharmaceuticals during the first quarter worth about $7,370,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biotechnology company that uses artificial intelligence, automation, and large-scale biological experimentation to accelerate the discovery and development of medicines. Its technology platform, known as the Recursion Operating System, integrates data from biology, chemistry, imaging, and machine learning to identify potential drug candidates and better understand disease biology.

The company develops therapies for areas including oncology, rare diseases, and neurological disorders.