Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 2.1% – Here’s What Happened

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shot up 2.1% during mid-day trading on Friday . The stock traded as high as $6.54 and last traded at $6.37. 5,629,128 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 25,496,789 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RXRX. KeyCorp dropped their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Leerink Partners dropped their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Finally, Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $8.25.

Recursion Pharmaceuticals Stock Up 5.6 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The firm has a market capitalization of $2.57 billion, a P/E ratio of -4.31 and a beta of 0.85. The company’s 50-day simple moving average is $7.64 and its two-hundred day simple moving average is $7.07.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. During the same quarter in the previous year, the business posted ($0.42) earnings per share. The firm’s revenue was down 57.8% on a year-over-year basis. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Ensign Peak Advisors Inc raised its position in shares of Recursion Pharmaceuticals by 0.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock valued at $2,774,000 after purchasing an additional 1,300 shares during the period. Farther Finance Advisors LLC raised its position in shares of Recursion Pharmaceuticals by 21.1% during the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after purchasing an additional 1,795 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Recursion Pharmaceuticals by 7.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after purchasing an additional 1,875 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Recursion Pharmaceuticals by 10.6% during the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after purchasing an additional 2,000 shares during the period. 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.