Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Large Volume Increase – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw unusually-high trading volume on Tuesday . Approximately 15,375,175 shares traded hands during trading, an increase of 6% from the previous session’s volume of 14,481,065 shares.The stock last traded at $5.92 and had previously closed at $5.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC dropped their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Leerink Partners dropped their price target on shares of 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. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their target price on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.60.

Recursion Pharmaceuticals Stock Up 6.4%

The stock has a market cap of $2.32 billion, a PE ratio of -3.71 and a beta of 0.84. The business has a 50 day moving average of $4.82 and a 200-day moving average of $6.35. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.06). The firm had revenue of $14.75 million during the quarter, compared to analyst estimates of $18.12 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.39) earnings per share. Equities research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RXRX. Rhumbline Advisers boosted its stake in shares of Recursion Pharmaceuticals by 7.5% during the first quarter. Rhumbline Advisers now owns 359,175 shares of the company’s stock worth $1,900,000 after buying an additional 25,143 shares during the period. Focus Partners Wealth purchased a new stake in Recursion Pharmaceuticals during the 1st quarter valued at approximately $77,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Recursion Pharmaceuticals by 183.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,408,524 shares of the company’s stock valued at $33,901,000 after purchasing an additional 4,149,346 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Recursion Pharmaceuticals by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,434 shares of the company’s stock valued at $953,000 after purchasing an additional 12,372 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Recursion Pharmaceuticals during the first quarter worth approximately $890,000. 89.06% of the stock is owned by hedge funds and other 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.