Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 5.1%

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s stock price shot up 5.1% during trading on Monday . The company traded as high as $7.95 and last traded at $7.88. 2,020,023 shares were traded during mid-day trading, a decline of 68% from the average session volume of 6,225,134 shares. The stock had previously closed at $7.50.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday, June 25th.

Recursion Pharmaceuticals Stock Performance

The firm has a market cap of $1.70 billion, a P/E ratio of -4.48 and a beta of 0.83. The firm’s fifty day moving average price is $8.83 and its 200 day moving average price is $9.91.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. The firm had revenue of $13.80 million for the quarter, compared to the consensus estimate of $11.10 million. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) EPS. As a group, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total value of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at approximately $3,860,644.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher Gibson sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $7.73, for a total value of $386,500.00. Following the completion of the transaction, the chief executive officer now directly owns 863,524 shares in the company, valued at approximately $6,675,040.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total transaction of $43,260.00. Following the completion of the transaction, the chief operating officer now owns 535,457 shares of the company’s stock, valued at $3,860,644.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 207,359 shares of company stock valued at $1,704,435. Insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Mubadala Investment Co PJSC acquired a new position in Recursion Pharmaceuticals during the fourth quarter worth $128,041,000. Citigroup Inc. raised its position in Recursion Pharmaceuticals by 165.3% during the third quarter. Citigroup Inc. now owns 470,512 shares of the company’s stock worth $3,599,000 after acquiring an additional 293,174 shares during the period. Gladstone Institutional Advisory LLC purchased a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $133,000. Norges Bank purchased a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $34,825,000. Finally, UBS Group AG grew its holdings in shares of Recursion Pharmaceuticals by 103.1% during the third quarter. UBS Group AG now owns 342,679 shares of the company’s stock worth $2,621,000 after buying an additional 173,954 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.