Recursion Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:RXRX)

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 37,151 call options on the company. This is an increase of approximately 42% compared to the average daily volume of 26,190 call options.

Insider Activity at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 220,000 shares of the firm’s 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 of the company’s stock, valued at approximately $30,021,301.31. This trade represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

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

Recursion Pharmaceuticals Stock Performance

NASDAQ RXRX opened at $4.68 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.60 and a quick ratio of 4.60. Recursion Pharmaceuticals has a 1-year low of $3.79 and a 1-year high of $12.36. The business has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $5.14. The stock has a market capitalization of $2.43 billion, a PE ratio of -2.60 and a beta of 0.94.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was down 80.1% on a year-over-year basis. On average, research analysts predict that Recursion Pharmaceuticals will post -1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

RXRX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded Recursion Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $11.00 in a research note on Wednesday. Morgan Stanley set a $11.00 price objective on Recursion Pharmaceuticals in a research note on Wednesday. UBS Group set a $11.00 target price on Recursion Pharmaceuticals in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and an average price target of $9.50.

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.