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Why To Invest In Recursion Pharmaceuticals Inc (NASDAQ: RXRX) Stock?

In the last trading session, 3.09 million Recursion Pharmaceuticals Inc (NASDAQ:RXRX) shares changed hands as the company’s beta touched 0.64. With the company’s per share price at $10.09 changed hands at $0.19 or 1.92% during last session, the market valuation stood at $2.18B. RXRX’s last price was a discount, traded about -66.01% off its 52-week high of $16.75. The share price had its 52-week low at $4.54, which suggests the last value was 55.0% up since then. When we look at Recursion Pharmaceuticals Inc’s average trading volume, we note the 10-day average is 3.62 million shares, with the 3-month average coming to 0.57.

Recursion Pharmaceuticals Inc (NASDAQ:RXRX) trade information

Instantly RXRX was in green as seen at the end of in last trading. With action 8.61%, the performance over the past five days has been green. The jump to weekly highs of 10.18 added 1.92% to the stock’s daily price. The company’s shares are showing year-to-date upside of 2.33%, with the 5-day performance at 8.61% in the green. However, in the 30-day time frame, Recursion Pharmaceuticals Inc (NASDAQ:RXRX) is -19.22% down. Looking at the short shares, we see there were 38.27 million shares sold at short interest cover period of 5.77 days.

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Recursion Pharmaceuticals Inc (RXRX) estimates and forecasts

Data shows that the Recursion Pharmaceuticals Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 1.10% over the past 6 months, a -23.53% in annual growth rate that is considerably lower than the industry average of 11.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Recursion Pharmaceuticals Inc will fall -45.20%, while the growth in revenue is estimated to hit -26.50% for the next quarter. Year-over-year growth is forecast to reach 30.90% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $20.35 million. 5 analysts are of the opinion that Recursion Pharmaceuticals Inc’s revenue for the quarter ending Mar 2024 will be $14.4 million. The company’s revenue for the corresponding quarters a year ago was $13.68 million and $12.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 48.80%. The estimates for the next quarter sales put growth at 18.70%.

The 2024 estimates are for Recursion Pharmaceuticals Inc earnings to decrease by -21.23%, but the outlook for the next 5-year period is at 12.00% per year.

Recursion Pharmaceuticals Inc (NASDAQ:RXRX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 6.05% of Recursion Pharmaceuticals Inc shares while 97.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.88%. There are 97.60% institutions holding the Recursion Pharmaceuticals Inc stock share, with Baillie Gifford and Company the top institutional holder. As of Jun 29, 2023, the company held 12.30% of the shares, roughly 25.1 million RXRX shares worth $187.48 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.69% or 11.62 million shares worth $86.8 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard U.S. Growth Fund. With 6.8 million shares estimated at $52.0 million under it, the former controlled 3.33% of total outstanding shares. On the other hand, Vanguard U.S. Growth Fund held about 1.95% of the shares, roughly 3.97 million shares worth around $34.85 million.

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