Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 15,375,175 shares traded hands during mid-day trading, an increase of 6% from the previous session's volume of 14,481,065 shares.The stock last traded at $5.92 and had previously closed at $5.37.

Analysts Set New Price Targets

RXRX has been the subject of a number of analyst reports. Needham & Company LLC decreased their price objective on shares of Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $7.60.

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $2.00 billion, a PE ratio of -3.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The firm's 50 day moving average is $4.89 and its 200-day moving average is $6.32.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). The firm had revenue of $14.75 million during the quarter, compared to analysts' expectations of $18.12 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. On average, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth approximately $27,000. AlphaQuest LLC acquired a new stake in Recursion Pharmaceuticals during the 1st quarter worth approximately $36,000. GAMMA Investing LLC lifted its holdings in Recursion Pharmaceuticals by 39.0% during the 1st quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after buying an additional 2,026 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Recursion Pharmaceuticals by 21.1% during the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after buying an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Recursion Pharmaceuticals by 43.7% during the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock worth $53,000 after buying an additional 2,387 shares in the last quarter. 89.06% 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 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.