Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Unusually-High Trading Volume - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 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 brokerages recently issued reports on RXRX. Cowen reissued a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Needham & Company LLC cut their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley cut their price objective on Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Leerink Partners cut their price objective on 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Recursion Pharmaceuticals presently has an average rating of "Hold" and an average price target of $7.60.

Recursion Pharmaceuticals Stock Performance

The company has a market cap of $2.23 billion, a price-to-earnings ratio of -3.59 and a beta of 0.84. The firm has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $6.35. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RXRX. Barclays PLC increased its holdings in shares of Recursion Pharmaceuticals by 53.9% in the third quarter. Barclays PLC now owns 697,432 shares of the company's stock valued at $4,596,000 after purchasing an additional 244,278 shares during the period. Brighton Jones LLC increased its holdings in shares of Recursion Pharmaceuticals by 49.4% in the fourth quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock valued at $137,000 after purchasing an additional 6,699 shares during the period. KBC Group NV increased its holdings in shares of Recursion Pharmaceuticals by 61.9% in the fourth quarter. KBC Group NV now owns 12,307 shares of the company's stock valued at $83,000 after purchasing an additional 4,705 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $112,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $190,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Recursion Pharmaceuticals Company Profile

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.