Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up - What's Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $5.84, but opened at $6.11. Recursion Pharmaceuticals shares last traded at $6.94, with a volume of 17,749,092 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RXRX shares. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, July 8th. Morgan Stanley initiated coverage on shares of Recursion Pharmaceuticals in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals presently has an average rating of "Hold" and an average target price of $7.00.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.11. The business has a 50-day moving average price of $5.04 and a 200 day moving average price of $5.99. The stock has a market capitalization of $2.54 billion, a P/E ratio of -3.54 and a beta of 0.91.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). The business had revenue of $14.75 million during the quarter, compared to analysts' expectations of $18.12 million. Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. Recursion Pharmaceuticals's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) EPS. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 7.6% in the first quarter. ARK Investment Management LLC now owns 34,815,502 shares of the company's stock worth $184,174,000 after acquiring an additional 2,469,104 shares during the period. Vanguard Group Inc. grew its stake in shares of Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after acquiring an additional 9,737,196 shares during the period. Softbank Group CORP. purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at $99,152,000. Kinnevik AB publ increased its stake in Recursion Pharmaceuticals by 12.8% in the 1st quarter. Kinnevik AB publ now owns 13,434,171 shares of the company's stock worth $71,067,000 after buying an additional 1,528,503 shares in the last quarter. Finally, Novo Holdings A S purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth $68,375,000. 89.06% of the stock is owned by institutional investors.

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.