Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Unusually-High Trading Volume – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw an uptick in trading volume on Tuesday . 5,948,914 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 6,783,394 shares.The stock last traded at $7.17 and had previously closed at $6.99.

Wall Street Analyst Weigh In

RXRX has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Trading Up 3.6 %

The business has a 50-day moving average of $6.78 and a 200-day moving average of $7.16. 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 stock has a market cap of $2.08 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The firm’s quarterly revenue was up 147.6% compared to the same quarter last year. As a group, research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the transaction, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,788 shares of company stock valued at $682,691 over the last ninety days. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp boosted its position in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after acquiring an additional 4,120,685 shares during the period. Lingotto Investment Management LLP grew its stake in shares of Recursion Pharmaceuticals by 69.0% in the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock worth $27,563,000 after acquiring an additional 1,500,000 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in Recursion Pharmaceuticals during the second quarter worth $8,250,000. Finally, Perceptive Advisors LLC acquired a new position in Recursion Pharmaceuticals during the 2nd quarter valued at $5,769,000. 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.