Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up Following Analyst Upgrade

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price gapped up prior to trading on Wednesday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $4.20, but opened at $4.51. JPMorgan Chase & Co. now has a $11.00 price target on the stock, up from their previous price target of $10.00. Recursion Pharmaceuticals shares last traded at $4.7530, with a volume of 14,656,936 shares traded.

RXRX has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, September 11th. Morgan Stanley set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday. Finally, UBS Group set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $9.50.

Insider Transactions at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 220,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $961,400.00. Following the transaction, the director directly owned 6,869,863 shares in the company, valued at approximately $30,021,301.31. This trade represents a 3.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RXRX. Hudson Bay Capital Management LP increased its stake in shares of Recursion Pharmaceuticals by 50.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 225,000 shares of the company’s stock valued at $1,098,000 after purchasing an additional 75,000 shares in the last quarter. Allworth Financial LP raised its stake in Recursion Pharmaceuticals by 85.6% in the third quarter. Allworth Financial LP now owns 9,548 shares of the company’s stock valued at $47,000 after buying an additional 4,403 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Recursion Pharmaceuticals by 81.5% during the third quarter. IFP Advisors Inc now owns 10,355 shares of the company’s stock worth $51,000 after purchasing an additional 4,650 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Recursion Pharmaceuticals in the third quarter valued at about $65,000. Finally, CIBC Bancorp USA Inc. purchased a new position in Recursion Pharmaceuticals during the 3rd quarter worth $191,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.60 and a quick ratio of 4.60. The stock has a market cap of $2.58 billion, a PE ratio of -2.72 and a beta of 0.94. The company has a 50-day simple moving average of $5.03 and a 200-day simple moving average of $5.14.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.02. Recursion Pharmaceuticals had a negative return on equity of 72.74% and a negative net margin of 1,637.81%.The business had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same quarter in the prior year, the firm posted ($0.34) EPS. The company’s revenue was down 80.1% compared to the same quarter last year. Sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

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.