Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 7.3% – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares rose 7.3% during trading on Tuesday . The stock traded as high as $5.23 and last traded at $5.19. Approximately 7,337,377 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 15,417,245 shares. The stock had previously closed at $4.83.

Analyst Ratings Changes

RXRX has been the subject of several research reports. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Morgan Stanley cut their price target on Recursion Pharmaceuticals from $8.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, June 16th. Leerink Partners cut their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, February 28th. Finally, Needham & Company LLC cut their price target on Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Recursion Pharmaceuticals presently has an average rating of “Hold” and an average price target of $7.00.

Recursion Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $6.23. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.13 billion, a P/E ratio of -2.97 and a beta of 0.84.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Monday, May 5th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The firm had revenue of $14.75 million for the quarter, compared to the consensus estimate of $18.12 million. During the same period in the prior year, the business earned ($0.39) EPS. Recursion Pharmaceuticals’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds have recently modified their holdings of RXRX. Brighton Jones LLC lifted its position in shares of Recursion Pharmaceuticals by 49.4% during the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company’s stock worth $137,000 after buying an additional 6,699 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Recursion Pharmaceuticals by 7.6% in the 4th quarter. Rhumbline Advisers now owns 334,032 shares of the company’s stock worth $2,258,000 after purchasing an additional 23,564 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $75,000. Global Retirement Partners LLC raised its holdings in shares of Recursion Pharmaceuticals by 31.5% in the 4th quarter. Global Retirement Partners LLC now owns 31,297 shares of the company’s stock worth $212,000 after purchasing an additional 7,500 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of Recursion Pharmaceuticals by 103.8% in the 4th quarter. Private Advisor Group LLC now owns 31,427 shares of the company’s stock worth $212,000 after purchasing an additional 16,008 shares during the period. Institutional investors own 89.06% of the company’s stock.

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.