Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 9.8% Higher – Here’s What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares traded up 9.8% during trading on Wednesday . The stock traded as high as $3.36 and last traded at $3.3940. Approximately 17,051,622 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 18,116,604 shares. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on Recursion Pharmaceuticals from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Recursion Pharmaceuticals in a report on Thursday, May 7th. Wall Street Zen cut Recursion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Morgan Stanley set a $5.30 target price on Recursion Pharmaceuticals in a research note on Monday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $8.06.

Recursion Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03. The company’s 50 day moving average price is $3.29 and its 200 day moving average price is $3.36. The firm has a market capitalization of $1.82 billion, a P/E ratio of -3.27 and a beta of 1.03.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. The company had revenue of $7.67 million during the quarter, compared to analyst estimates of $10.97 million. During the same period in the prior year, the business earned ($0.41) EPS. As a group, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, CEO Najat Khan sold 23,588 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $3.58, for a total value of $84,445.04. Following the transaction, the chief executive officer owned 2,175,796 shares in the company, valued at $7,789,349.68. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $3.25, for a total value of $97,500.00. Following the completion of the sale, the director owned 6,188,287 shares of the company’s stock, valued at approximately $20,111,932.75. The trade was a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 131,937 shares of company stock valued at $478,874 over the last three months. Insiders own 6.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RXRX. International Assets Investment Management LLC acquired a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $31,000. Sequoia Financial Advisors LLC acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth $41,000. NewEdge Advisors LLC grew its holdings in Recursion Pharmaceuticals by 28.1% during the 2nd quarter. NewEdge Advisors LLC now owns 11,061 shares of the company’s stock worth $56,000 after acquiring an additional 2,428 shares during the period. Fund Advisors of America Inc FL bought a new stake in shares of Recursion Pharmaceuticals during the 2nd quarter valued at $45,000. Finally, Quantbot Technologies LP bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter valued at $61,000. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc (NASDAQ: RXRX) is a biopharmaceutical company that combines advanced automation, artificial intelligence and high-throughput biology to discover and develop novel therapeutics. The company’s proprietary platform integrates deep-learning algorithms with large-scale cellular imaging and chemical biology, enabling the rapid identification of potential drug candidates across a range of indications. By automating complex laboratory workflows and leveraging computational models, Recursion aims to accelerate the drug discovery process and expand the scope of targets that can be addressed.

At the core of Recursion’s offering is its digital biology platform, which captures billions of cell images under varying chemical and genetic perturbations.