Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up - Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares 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 changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on RXRX. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Recursion Pharmaceuticals in a research note on Tuesday, July 8th. Morgan Stanley began coverage on shares of Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of "Hold" and an average price target of $7.00.

Recursion Pharmaceuticals Stock Up 11.0%

The firm's 50-day moving average price is $4.92 and its 200 day moving average price is $6.00. The firm has a market cap of $2.64 billion, a P/E ratio of -3.69 and a beta of 0.91. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released 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). The firm had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.39) EPS. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Recursion Pharmaceuticals by 16.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,439 shares of the company's stock valued at $78,000 after acquiring an additional 2,219 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Recursion Pharmaceuticals during the 2nd quarter valued at about $51,000. Kieckhefer Group LLC bought a new position in Recursion Pharmaceuticals during the second quarter valued at approximately $192,000. Farther Finance Advisors LLC raised its position in shares of Recursion Pharmaceuticals by 83.7% in the second quarter. Farther Finance Advisors LLC now owns 14,202 shares of the company's stock valued at $72,000 after purchasing an additional 6,470 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Recursion Pharmaceuticals by 7.5% in the first quarter. Rhumbline Advisers now owns 359,175 shares of the company's stock valued at $1,900,000 after purchasing an additional 25,143 shares during the period. Institutional investors 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.

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