Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 12.3% - Time to Buy?

Key Points

• Recursion Pharmaceuticals (NASDAQ:RXRX) saw a significant 12.3% increase in its stock price, reaching $6.62, despite a decline in trading volume.
• Analysts have given the stock a consensus rating of "Hold" with an average target price of $7.25, while Needham & Company has set a more optimistic price target of $8.00.
• The company reported quarterly earnings of ($0.41) EPS, missing estimates, but showed a revenue increase of 33.3% year-over-year, at $19.1 million.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares traded up 12.3% during trading on Wednesday . The company traded as high as $6.62 and last traded at $6.62. 18,296,061 shares traded hands during trading, a decline of 31% from the average session volume of 26,379,930 shares. The stock had previously closed at $5.89.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Morgan Stanley initiated coverage on shares of Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They issued an "equal weight" rating and a $5.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.25.

Recursion Pharmaceuticals Trading Up 4.0%

The firm has a market capitalization of $2.66 billion, a P/E ratio of -3.49 and a beta of 0.91. The firm has a fifty day simple moving average of $5.07 and a two-hundred day simple moving average of $5.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.58 and a quick ratio of 3.58.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). Recursion Pharmaceuticals had a negative net margin of 1,004.91% and a negative return on equity of 76.09%. The company had revenue of $19.10 million for the quarter, compared to the consensus estimate of $15.38 million. During the same period last year, the business posted ($0.40) earnings per share. The firm's quarterly revenue was up 33.3% compared to the same quarter last year. On average, equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Recursion Pharmaceuticals

In other news, insider Najat Khan sold 36,599 shares of Recursion Pharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $5.52, for a total transaction of $202,026.48. Following the completion of the sale, the insider directly owned 668,197 shares in the company, valued at approximately $3,688,447.44. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.43% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its holdings in shares of Recursion Pharmaceuticals by 64.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,631 shares of the company's stock valued at $29,000 after purchasing an additional 2,200 shares in the last quarter. AlphaQuest LLC acquired a new stake in Recursion Pharmaceuticals in the 1st quarter valued at about $36,000. GAMMA Investing LLC increased its holdings in shares of Recursion Pharmaceuticals by 39.0% in the 1st quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock valued at $38,000 after purchasing an additional 2,026 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Recursion Pharmaceuticals by 97.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 9,019 shares of the company's stock valued at $46,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Recursion Pharmaceuticals during the second quarter valued at $51,000. Institutional investors and hedge funds own 89.06% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.