Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares gapped up before the market opened on Wednesday . The stock had previously closed at $7.46, but opened at $7.89. Recursion Pharmaceuticals shares last traded at $7.53, with a volume of 2,242,941 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Leerink Partners decreased their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.25.

Recursion Pharmaceuticals Price Performance

The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average is $6.71 and its two-hundred day moving average is $7.29.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. During the same quarter in the previous year, the business earned ($0.43) EPS. The company’s revenue for the quarter was up 147.6% on a year-over-year basis. Analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In related news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $6.84, for a total value of $78,297.48. Following the completion of the transaction, the director now directly owns 7,109,875 shares in the company, valued at approximately $48,631,545. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,235 shares of company stock valued at $802,988 in the last 90 days. Insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Recursion Pharmaceuticals by 58.9% in the third quarter. Franklin Resources Inc. now owns 18,963 shares of the company’s stock worth $127,000 after purchasing an additional 7,027 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Recursion Pharmaceuticals during the 3rd quarter worth $89,000. Geode Capital Management LLC grew its position in Recursion Pharmaceuticals by 13.7% in the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after acquiring an additional 656,003 shares in the last quarter. Barclays PLC increased its stake in Recursion Pharmaceuticals by 53.9% in the third quarter. Barclays PLC now owns 697,432 shares of the company’s stock valued at $4,596,000 after acquiring an additional 244,278 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Recursion Pharmaceuticals during the third quarter valued at about $692,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Company Profile

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.