Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up to $7.70

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $7.70, but opened at $8.15. Recursion Pharmaceuticals shares last traded at $8.17, with a volume of 2,353,803 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RXRX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of Recursion Pharmaceuticals in a research note on Tuesday, April 9th. KeyCorp lifted their price target on Recursion Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, TD Cowen initiated coverage on Recursion Pharmaceuticals in a research note on Friday, January 26th. They set a “market perform” rating on the stock. Three equities research 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 has a consensus rating of “Hold” and a consensus price target of $12.75.

Recursion Pharmaceuticals Stock Performance

The company has a 50-day moving average of $10.47 and a two-hundred day moving average of $9.11.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.06. Recursion Pharmaceuticals had a negative return on equity of 72.88% and a negative net margin of 735.99%. The business had revenue of $10.89 million for the quarter, compared to the consensus estimate of $12.37 million. On average, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 23,124 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $7.58, for a total value of $175,279.92. Following the sale, the chief financial officer now directly owns 1,231,055 shares of the company’s stock, valued at $9,331,396.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Recursion Pharmaceuticals news, CFO Michael Secora sold 23,124 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $7.58, for a total value of $175,279.92. Following the sale, the chief financial officer now directly owns 1,231,055 shares of the company’s stock, valued at $9,331,396.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $7.66, for a total value of $87,684.02. Following the completion of the transaction, the director now owns 7,229,861 shares of the company’s stock, valued at approximately $55,380,735.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 348,218 shares of company stock valued at $3,536,464. 19.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. National Bank of Canada FI raised its stake in shares of Recursion Pharmaceuticals by 90.9% in the fourth quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Recursion Pharmaceuticals by 6.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,002 shares of the company’s stock worth $252,000 after purchasing an additional 1,938 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Recursion Pharmaceuticals by 11.8% in the first quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock worth $172,000 after purchasing an additional 2,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Recursion Pharmaceuticals by 25.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,123 shares of the company’s stock valued at $77,000 after acquiring an additional 2,050 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Recursion Pharmaceuticals by 116.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,237 shares of the company’s stock valued at $40,000 after acquiring an additional 2,817 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.