Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 4.9% Higher - What's Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) rose 4.9% during mid-day trading on Tuesday . The stock traded as high as $6.07 and last traded at $5.64. Approximately 23,647,455 shares traded hands during mid-day trading, an increase of 63% from the average daily volume of 14,514,037 shares. The stock had previously closed at $5.37.

Wall Street Analysts Forecast Growth

RXRX has been the topic of several research reports. Needham & Company LLC lowered their price target on shares of Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Cowen reissued a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Morgan Stanley decreased their price objective on Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.60.

Recursion Pharmaceuticals Price Performance

The company has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $6.33. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -3.22 and a beta of 0.84. 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 quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $14.75 million for the quarter, compared to analysts' expectations of $18.12 million. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. Recursion Pharmaceuticals's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RXRX. Private Trust Co. NA acquired a new stake in Recursion Pharmaceuticals in the fourth quarter valued at approximately $27,000. AlphaQuest LLC acquired a new stake in Recursion Pharmaceuticals during the 1st quarter valued at $36,000. GAMMA Investing LLC increased its stake in Recursion Pharmaceuticals by 39.0% during the 1st quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after buying an additional 2,026 shares during the period. Farther Finance Advisors LLC lifted its holdings in Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after buying an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Recursion Pharmaceuticals by 43.7% in the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after buying an additional 2,387 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.