Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 9.4% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price was up 9.4% during mid-day trading on Friday . The stock traded as high as $5.90 and last traded at $6.04. Approximately 5,924,028 shares were traded during trading, a decline of 65% from the average daily volume of 16,866,434 shares. The stock had previously closed at $5.52.

Analyst Ratings Changes

RXRX has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Tuesday, July 8th. Morgan Stanley initiated coverage on Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They issued 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 given a buy rating to the company. Based on data from MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of "Hold" and an average price target of $7.00.

Recursion Pharmaceuticals Stock Up 6.2%

The firm's fifty day simple moving average is $4.89 and its 200 day simple moving average is $6.02. 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 stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -3.31 and a beta of 0.91.

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 analysts' consensus estimates of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The firm had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RXRX. AlphaQuest LLC acquired a new position in shares of Recursion Pharmaceuticals during the 1st quarter worth approximately $36,000. GAMMA Investing LLC grew its stake in shares of Recursion Pharmaceuticals by 39.0% in the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock valued at $38,000 after buying an additional 2,026 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Recursion Pharmaceuticals during the second quarter worth $51,000. Farther Finance Advisors LLC raised its position in Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after acquiring an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Recursion Pharmaceuticals by 43.7% in the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after acquiring an additional 2,387 shares during the last quarter. 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.

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