Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.22, but opened at $6.51. Recursion Pharmaceuticals shares last traded at $6.23, with a volume of 3,185,899 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Leerink Partners dropped their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Jefferies Financial Group dropped their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a 50-day moving average of $6.77 and a 200-day moving average of $7.23. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

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

Insider Activity

In related news, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $7.00, for a total value of $42,000.00. Following the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,647,966. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,788 shares of company stock worth $724,691. 15.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RXRX. Allspring Global Investments Holdings LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter worth $25,000. Farther Finance Advisors LLC increased its holdings in Recursion Pharmaceuticals by 176.9% in the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock worth $42,000 after buying an additional 4,091 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Recursion Pharmaceuticals by 52.4% during the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares in the last quarter. KBC Group NV raised its holdings in Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after buying an additional 3,377 shares in the last quarter. Finally, San Luis Wealth Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $69,000. 89.06% of the stock is currently owned by institutional investors.

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.