Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw strong trading volume on Monday . 9,916,028 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 11,771,491 shares.The stock last traded at $5.68 and had previously closed at $5.76.

Wall Street Analyst Weigh In

RXRX has been the subject of several research analyst reports. KeyCorp lowered their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley cut their target price on Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Finally, Leerink Partners cut their price objective on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.20.

Recursion Pharmaceuticals Price Performance

The company has a 50 day moving average of $6.83 and a 200 day moving average of $6.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -3.56 and a beta of 1.00.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm 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 company posted ($0.42) earnings per share. The firm’s quarterly revenue was down 57.8% on a year-over-year basis. As a group, equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $26,000. Private Trust Co. NA purchased a new position in Recursion Pharmaceuticals during the 4th quarter worth $27,000. GAMMA Investing LLC increased its stake in Recursion Pharmaceuticals by 1,979.2% in the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after purchasing an additional 4,948 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 21.1% in the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after buying an additional 1,353 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 43.7% during the fourth quarter. NewEdge Advisors LLC now owns 7,847 shares of the company’s stock worth $53,000 after buying an additional 2,387 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.