Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 4.5% Higher – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 4.5% during mid-day trading on Friday . The stock traded as high as $6.79 and last traded at $6.69. Approximately 3,680,020 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 14,370,391 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RXRX. KeyCorp reduced their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Recursion Pharmaceuticals has a consensus rating of “Hold” and an average target price of $8.75.

Recursion Pharmaceuticals Price Performance

The stock has a market cap of $2.54 billion, a PE ratio of -4.27 and a beta of 0.85. The business’s 50-day simple moving average is $6.91 and its 200-day simple moving average is $6.96. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue for the quarter was up 147.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. On average, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $6.72, for a total value of $76,923.84. Following the completion of the transaction, the director now directly owns 7,077,560 shares of the company’s stock, valued at $47,561,203.20. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,894 shares of company stock valued at $317,139 over the last quarter. 15.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. Allspring Global Investments Holdings LLC bought a new position in shares of Recursion Pharmaceuticals in the 3rd quarter worth about $25,000. Decker Retirement Planning Inc. purchased a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $26,000. GAMMA Investing LLC increased its position in Recursion Pharmaceuticals by 1,979.2% during the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after buying an additional 4,948 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after buying an additional 4,091 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Recursion Pharmaceuticals by 79.9% in the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after acquiring an additional 3,377 shares in the last quarter. Hedge funds and other institutional investors 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.