Recursion Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:RXRX)

Key Points

• Recursion Pharmaceuticals experienced a significant increase in options trading, with 52,856 call options bought, marking a 134% surge from its average volume.
• Insider Najat Khan sold 36,599 shares of Recursion, reducing their ownership by 5.19% while retaining 668,197 shares valued at approximately $3.69 million.
• Analysts have set a consensus price target of $7.25 for Recursion Pharmaceuticals, with Needham & Company maintaining a "buy" rating and a target price of $8.00 for the stock.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock traders bought 52,856 call options on the stock. This is an increase of 134% compared to the average volume of 22,543 call options.

Insiders Place Their Bets

In related news, insider Najat Khan sold 36,599 shares of Recursion Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $5.52, for a total transaction of $202,026.48. Following the transaction, the insider directly owned 668,197 shares of the company's stock, valued at $3,688,447.44. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its position in Recursion Pharmaceuticals by 64.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,631 shares of the company's stock valued at $29,000 after acquiring an additional 2,200 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Recursion Pharmaceuticals during the first quarter worth $36,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 2,026 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $54,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Recursion Pharmaceuticals by 97.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 9,019 shares of the company's stock valued at $46,000 after buying an additional 4,446 shares during the period. Hedge funds and other institutional investors own 89.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on RXRX shares. Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday. 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 for the company. Two 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 company currently has a consensus rating of "Hold" and a consensus price target of $7.25.

Recursion Pharmaceuticals Trading Up 7.4%

RXRX traded up $0.33 during trading on Thursday, hitting $4.87. 23,363,093 shares of the stock traded hands, compared to its average volume of 24,017,711. The firm has a market capitalization of $2.12 billion, a P/E ratio of -2.75 and a beta of 0.91. The firm has a 50-day moving average of $5.36 and a 200 day moving average of $5.38. 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 has a 12-month low of $3.79 and a 12-month high of $12.36.

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

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.

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.