Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume - Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) saw strong trading volume on Wednesday . 28,262,734 shares traded hands during mid-day trading, an increase of 104% from the previous session's volume of 13,839,006 shares.The stock last traded at $4.93 and had previously closed at $4.39.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Leerink Partners lowered their price objective on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Friday, February 28th. Morgan Stanley lowered their price objective on Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Needham & Company LLC lowered their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.60.

Recursion Pharmaceuticals Price Performance

The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $6.35. The firm has a market cap of $1.86 billion, a PE ratio of -2.99 and a beta of 0.84. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Man Group plc acquired a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $479,000. Rockefeller Capital Management L.P. raised its position in shares of Recursion Pharmaceuticals by 323.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 281,922 shares of the company's stock worth $1,906,000 after purchasing an additional 215,283 shares during the last quarter. Invesco Ltd. raised its position in shares of Recursion Pharmaceuticals by 54.6% during the 4th quarter. Invesco Ltd. now owns 178,619 shares of the company's stock worth $1,207,000 after purchasing an additional 63,068 shares during the last quarter. Norges Bank acquired a new position in Recursion Pharmaceuticals in the 4th quarter valued at $23,429,000. Finally, Northern Trust Corp raised its holdings in Recursion Pharmaceuticals by 18.4% in the 4th quarter. Northern Trust Corp now owns 2,394,511 shares of the company's stock valued at $16,187,000 after acquiring an additional 371,886 shares during 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.