Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Jumps 6.5% – What’s Next?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX – Get Free Report)’s share price shot up 6.5% on Wednesday. The company traded as high as $4.24 and last traded at $4.3120. Approximately 1,847,473 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 19,474,332 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

Several analysts have recently commented on RXRX shares. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Thursday, October 15th. Morgan Stanley set a $5.90 price objective on shares of Recursion Pharmaceuticals in a research report on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.18.

View Our Latest Report on RXRX

Recursion Pharmaceuticals Price Performance

The stock has a market capitalization of $2.36 billion, a PE ratio of -4.24 and a beta of 1.04. The business’s fifty day moving average price is $3.69 and its 200-day moving average price is $3.55.

Recursion Pharmaceuticals (NASDAQ:RXRX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $7.67 million for the quarter, compared to analysts’ expectations of $10.97 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. On average, analysts expect that Recursion Pharmaceuticals, Inc. will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Najat Khan sold 22,408 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total value of $78,876.16. Following the completion of the transaction, the chief executive officer directly owned 2,072,890 shares in the company, valued at approximately $7,296,572.80. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Blake Borgeson sold 50,000 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total value of $242,000.00. Following the sale, the director owned 6,108,287 shares of the company’s stock, valued at $29,564,109.08. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,408 shares of company stock worth $643,576 over the last ninety days. 6.65% of the stock is owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in Recursion Pharmaceuticals by 17.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 97,679 shares of the company’s stock worth $394,000 after buying an additional 14,176 shares during the period. Park Avenue Securities LLC bought a new position in shares of Recursion Pharmaceuticals during the third quarter valued at approximately $47,000. Prime Capital Investment Advisors LLC lifted its stake in Recursion Pharmaceuticals by 261.8% in the third quarter. Prime Capital Investment Advisors LLC now owns 41,948 shares of the company’s stock worth $173,000 after acquiring an additional 30,354 shares during the period. Abel Hall LLC boosted its holdings in Recursion Pharmaceuticals by 73.1% in the third quarter. Abel Hall LLC now owns 22,856 shares of the company’s stock valued at $94,000 after acquiring an additional 9,651 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in Recursion Pharmaceuticals by 193.2% in the third quarter. TD Waterhouse Canada Inc. now owns 59,613 shares of the company’s stock valued at $243,000 after acquiring an additional 39,282 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Recursion Pharmaceuticals

(Get Free Report)

Recursion Pharmaceuticals, Inc is a biotechnology company that uses advanced computing, artificial intelligence and automated biology to discover and develop new medicines. The company’s platform, known as the Recursion Operating System, combines large-scale biological experimentation with machine learning and data analysis to identify potential drug candidates and characterize how diseases respond to treatments.

Recursion applies its technology to a range of therapeutic areas, including oncology, rare diseases, neuroscience and infectious diseases.

Further Reading

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