Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 6.5% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 6.5% during trading on Wednesday . The stock traded as high as $5.25 and last traded at $5.16. Approximately 14,759,864 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 15,162,708 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RXRX shares. Leerink Partners lowered their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 28th. Cowen reaffirmed a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Needham & Company LLC dropped their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their target price on shares of Recursion Pharmaceuticals from $8.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Recursion Pharmaceuticals Trading Up 5.6%

The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.08 billion, a PE ratio of -2.89 and a beta of 0.84. The stock’s fifty day moving average price is $4.94 and its two-hundred day moving average price is $6.27.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative net margin of 961.32% and a negative return on equity of 74.70%. The business had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. During the same period in the previous year, the company earned ($0.39) EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in RXRX. Brighton Jones LLC lifted its stake in Recursion Pharmaceuticals by 49.4% in the fourth quarter. Brighton Jones LLC now owns 20,261 shares of the company’s stock worth $137,000 after acquiring an additional 6,699 shares during the period. Rhumbline Advisers raised its holdings in Recursion Pharmaceuticals by 7.6% in the 4th quarter. Rhumbline Advisers now owns 334,032 shares of the company’s stock worth $2,258,000 after purchasing an additional 23,564 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth about $75,000. Global Retirement Partners LLC boosted its stake in shares of Recursion Pharmaceuticals by 31.5% during the 4th quarter. Global Retirement Partners LLC now owns 31,297 shares of the company’s stock valued at $212,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Recursion Pharmaceuticals by 103.8% during the fourth quarter. Private Advisor Group LLC now owns 31,427 shares of the company’s stock valued at $212,000 after buying an additional 16,008 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.