Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 9.5% - What's Next?

Key Points

• Recursion Pharmaceuticals shares rose by 9.5% on Thursday, with a trading volume increase of 75% compared to average daily levels, closing at $5.59.
• Research analysts have set a consensus rating of "Hold" for Recursion Pharmaceuticals, with target prices ranging from $5.00 to $8.00.
• The company reported a quarterly earnings miss with an EPS of ($0.41), but revenue increased by 33.3% year-over-year, reaching $19.1 million.

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) were up 9.5% on Thursday . The stock traded as high as $5.50 and last traded at $5.59. Approximately 43,526,291 shares were traded during trading, an increase of 75% from the average daily volume of 24,923,041 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

Several research analysts have weighed in on RXRX shares. Morgan Stanley started 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. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.25.

Recursion Pharmaceuticals Trading Up 8.2%

The company's 50 day moving average price is $5.14 and its 200 day moving average price is $5.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.58 and a quick ratio of 3.58. The firm has a market cap of $2.40 billion, a PE ratio of -3.10 and a beta of 0.91.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 76.09% and a negative net margin of 1,004.91%.The firm had revenue of $19.10 million during the quarter, compared to analysts' expectations of $15.38 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The firm's revenue was up 33.3% compared to the same quarter last year. As a group, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, insider Najat Khan sold 36,599 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $5.52, for a total value of $202,026.48. Following the completion of the transaction, the insider owned 668,197 shares in the company, valued at $3,688,447.44. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.43% of the stock is owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RXRX. TD Waterhouse Canada Inc. raised its holdings in Recursion Pharmaceuticals by 64.1% during the second quarter. TD Waterhouse Canada Inc. now owns 5,631 shares of the company's stock worth $29,000 after purchasing an additional 2,200 shares in the last quarter. AlphaQuest LLC acquired a new stake in Recursion Pharmaceuticals during the first quarter worth approximately $36,000. GAMMA Investing LLC raised its holdings in Recursion Pharmaceuticals by 39.0% during the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after purchasing an additional 2,026 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 worth $46,000 after purchasing an additional 4,446 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Recursion Pharmaceuticals during the second quarter worth approximately $51,000. 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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