Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 4.5% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 4.5% during mid-day trading on Monday . The stock traded as high as $6.68 and last traded at $6.64. Approximately 6,581,735 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 10,331,976 shares. The stock had previously closed at $6.35.

Analyst Ratings Changes

RXRX has been the subject of several recent research reports. KeyCorp reduced their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Leerink Partners reduced their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. Finally, Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Three 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 currently has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Stock Performance

The company has a 50-day moving average of $7.50 and a 200 day moving average of $7.01. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.57 billion, a PE ratio of -4.18 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Friday, February 28th. The company reported ($0.53) EPS 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 for the quarter, compared to analysts’ expectations of $19.04 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. Recursion Pharmaceuticals’s quarterly revenue was down 57.8% compared to the same quarter last year. Equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Ensign Peak Advisors Inc lifted its stake in shares of Recursion Pharmaceuticals by 0.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock valued at $2,774,000 after acquiring an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after acquiring an additional 1,353 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Recursion Pharmaceuticals by 7.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after acquiring an additional 1,875 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Recursion Pharmaceuticals by 10.6% in the 4th quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock valued at $144,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Recursion Pharmaceuticals by 28.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,135 shares of the company’s stock valued at $69,000 after acquiring an additional 2,235 shares during the last quarter. 89.06% of the stock is currently 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.