Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Jumps 6.5% – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price shot up 6.5% during trading on Wednesday. The company traded as high as $4.24 and last traded at $4.3120. 1,847,473 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 19,474,332 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

RXRX has been the topic of a number of research analyst reports. Morgan Stanley set a $5.90 price target on Recursion Pharmaceuticals in a report on Friday, October 16th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Recursion Pharmaceuticals in a report on Monday, October 19th. Wall Street Zen raised Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.18.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market cap of $2.27 billion, a P/E ratio of -4.08 and a beta of 1.04. The business’s 50-day simple moving average is $3.73 and its 200 day simple moving average is $3.54.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released 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). The firm had revenue of $7.67 million for the quarter, compared to the consensus estimate of $10.97 million. Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. During the same period in the previous year, the company earned ($0.41) earnings per share. As a group, equities analysts predict that Recursion Pharmaceuticals, Inc. will post -0.93 earnings per share for the current year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, Director Robert Hershberg sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $5.00, for a total transaction of $125,000.00. Following the completion of the sale, the director directly owned 162,156 shares in the company, valued at $810,780. The trade was a 13.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Najat Khan sold 22,408 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total transaction of $78,876.16. Following the sale, the chief executive officer directly owned 2,072,890 shares of the company’s stock, valued at $7,296,572.80. The trade was a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 157,408 shares of company stock valued at $643,576. Insiders own 6.65% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXRX. MCF Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals during the 2nd quarter valued at $27,000. Park Avenue Securities LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter worth $47,000. Fund Advisors of America Inc FL bought a new position in Recursion Pharmaceuticals in the 2nd quarter worth $45,000. Integral Investment Advisors Inc. bought a new position in Recursion Pharmaceuticals in the 1st quarter worth $39,000. Finally, MQS Management LLC purchased a new position in Recursion Pharmaceuticals during the first quarter valued at $41,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc is a biotechnology company that uses advanced computing, artificial intelligence and automated biology to discover and develop new medicines. The company’s platform, known as the Recursion Operating System, combines large-scale biological experimentation with machine learning and data analysis to identify potential drug candidates and characterize how diseases respond to treatments.

Recursion applies its technology to a range of therapeutic areas, including oncology, rare diseases, neuroscience and infectious diseases.