Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 5.6%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price shot up 5.6% during mid-day trading on Monday . The company traded as high as $8.55 and last traded at $8.51. 851,636 shares changed hands during trading, a decline of 73% from the average session volume of 3,192,473 shares. The stock had previously closed at $8.06.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RXRX. KeyCorp raised their price target on Recursion Pharmaceuticals from $12.00 to $15.00 in a research note on Thursday, July 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, September 5th. Finally, Morgan Stanley started coverage on Recursion Pharmaceuticals in a research report on Monday, May 22nd. They set an “equal weight” rating and a $8.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.40.

Recursion Pharmaceuticals Stock Performance

The firm has a fifty day moving average price of $10.45 and a 200 day moving average price of $8.32. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -6.15 and a beta of -0.05.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.38). The firm had revenue of $11.02 million during the quarter, compared to analysts’ expectations of $10.43 million. Recursion Pharmaceuticals had a negative return on equity of 58.66% and a negative net margin of 520.11%. Research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 33,765 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $8.78, for a total transaction of $296,456.70. Following the completion of the transaction, the chief executive officer now owns 871,291 shares of the company’s stock, valued at $7,649,934.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Christopher Gibson sold 33,765 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $8.78, for a total value of $296,456.70. Following the completion of the transaction, the chief executive officer now directly owns 871,291 shares in the company, valued at $7,649,934.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Secora sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $9.93, for a total value of $248,250.00. Following the completion of the transaction, the chief financial officer now owns 805,413 shares of the company’s stock, valued at $7,997,751.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,387 shares of company stock valued at $4,352,213. Corporate insiders own 19.96% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in Recursion Pharmaceuticals by 11.1% during the second quarter. Ameritas Investment Partners Inc. now owns 11,270 shares of the company’s stock worth $84,000 after acquiring an additional 1,129 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Recursion Pharmaceuticals by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 55,778 shares of the company’s stock worth $430,000 after buying an additional 1,458 shares during the period. Principal Financial Group Inc. boosted its position in shares of Recursion Pharmaceuticals by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 34,483 shares of the company’s stock worth $266,000 after buying an additional 1,603 shares during the period. Strs Ohio boosted its position in shares of Recursion Pharmaceuticals by 8.2% in the second quarter. Strs Ohio now owns 22,400 shares of the company’s stock worth $167,000 after buying an additional 1,700 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in Recursion Pharmaceuticals by 8.7% in the second quarter. Foundations Investment Advisors LLC now owns 23,003 shares of the company’s stock valued at $172,000 after purchasing an additional 1,842 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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 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 1b/2 clinical trial to treat AXIN1 or APC mutant cancers.