Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 5.4% Higher – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares shot up 5.4% during mid-day trading on Tuesday . The company traded as high as $5.85 and last traded at $5.81. 3,085,222 shares were traded during mid-day trading, a decline of 74% from the average session volume of 11,835,804 shares. The stock had previously closed at $5.51.

Analysts Set New Price Targets

A number of brokerages have recently commented on RXRX. Leerink Partners cut their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley decreased their price target on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Cowen reaffirmed a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Finally, KeyCorp lowered their target price 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. Four equities 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, the company has a consensus rating of “Hold” and an average price target of $8.20.

Recursion Pharmaceuticals Stock Performance

The stock has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $6.82. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

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

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock valued at $229,908,000 after buying an additional 9,737,196 shares in the last quarter. Softbank Group CORP. bought a new stake in shares of Recursion Pharmaceuticals during the fourth quarter valued at approximately $99,152,000. State Street Corp raised its position in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. Novo Holdings A S bought a new position in shares of Recursion Pharmaceuticals in the 4th quarter worth $68,375,000. Finally, Geode Capital Management LLC grew its position in Recursion Pharmaceuticals by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 6,087,149 shares of the company’s stock valued at $41,160,000 after purchasing an additional 655,238 shares during the period. Institutional investors and hedge funds 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.