Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 5.3% Higher

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) rose 5.3% during mid-day trading on Tuesday . The company traded as high as $8.58 and last traded at $8.57. Approximately 1,152,089 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,112,589 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday, June 25th. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th.

Recursion Pharmaceuticals Trading Up 3.1 %

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -5.27 and a beta of 0.83. The stock’s 50-day moving average is $8.55 and its 200-day moving average is $9.64.

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

Insider Buying and Selling

In other news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total transaction of $97,070.56. Following the transaction, the director now owns 7,155,663 shares in the company, valued at $60,680,022.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was 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 in the company, valued at $3,860,644.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $8.48, for a total transaction of $97,070.56. Following the completion of the sale, the director now directly owns 7,155,663 shares in the company, valued at $60,680,022.24. The disclosure for this sale can be found here. Insiders have sold a total of 257,682 shares of company stock worth $2,083,123 in the last ninety days. Company insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RXRX. Mubadala Investment Co PJSC acquired a new position in Recursion Pharmaceuticals during the 4th quarter worth approximately $128,041,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Recursion Pharmaceuticals by 161.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,203,780 shares of the company’s stock worth $90,749,000 after purchasing an additional 5,680,656 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 161.2% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock worth $90,565,000 after purchasing an additional 5,680,656 shares in the last quarter. Vanguard Group Inc. grew its position in Recursion Pharmaceuticals by 37.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock valued at $118,627,000 after purchasing an additional 4,247,002 shares during the period. Finally, Norges Bank bought a new stake in Recursion Pharmaceuticals during the 4th quarter valued at $34,825,000. 89.06% of the stock is currently owned by institutional investors.

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.