Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 1.9% - Here's Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price shot up 1.9% during mid-day trading on Thursday . The company traded as high as $5.78 and last traded at $5.69. 4,126,428 shares were traded during mid-day trading, a decline of 66% from the average session volume of 12,161,440 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RXRX shares. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. Leerink Partners reduced their price objective 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. Morgan Stanley dropped their target price on Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. KeyCorp decreased their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.20.

Recursion Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.35 billion, a PE ratio of -3.82 and a beta of 1.00. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $6.21 and a 200 day moving average of $6.78.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.17). The company had revenue of $4.60 million during the quarter, compared to analysts' expectations of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals's quarterly revenue was down 57.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.42) EPS. Equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in RXRX. Decker Retirement Planning Inc. purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $26,000. Private Trust Co. NA purchased a new position in shares of Recursion Pharmaceuticals during the fourth quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company's stock worth $35,000 after acquiring an additional 4,948 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock valued at $52,000 after purchasing an additional 1,353 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 43.7% during the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock valued at $53,000 after purchasing an additional 2,387 shares during the last quarter. Institutional investors 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.