Recursion Pharmaceuticals (NASDAQ:RXRX) Given “Buy” Rating at Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $11.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 57.82% from the company’s previous close.

RXRX has been the subject of a number of other reports. Leerink Partners reduced their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. KeyCorp reduced their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group cut their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.40.

Recursion Pharmaceuticals Price Performance

Shares of Recursion Pharmaceuticals stock opened at $6.97 on Thursday. The firm has a fifty day simple moving average of $6.59 and a 200-day simple moving average of $7.63. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals has a 1-year low of $5.03 and a 1-year high of $15.74. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -4.30 and a beta of 0.81.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The firm had revenue of $14.42 million during the quarter, compared to analyst estimates of $11.96 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Recursion Pharmaceuticals’s quarterly revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts expect that Recursion Pharmaceuticals will post -1.58 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the completion of the transaction, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,606,442.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the completion of the transaction, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,606,442.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $7.56, for a total transaction of $45,360.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares of the company’s stock, valued at approximately $3,939,803.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,682 shares of company stock worth $1,107,868. 15.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in Recursion Pharmaceuticals by 79.9% during the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after purchasing an additional 3,377 shares during the last quarter. Pier 88 Investment Partners LLC lifted its holdings in Recursion Pharmaceuticals by 442.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 133,910 shares of the company’s stock valued at $882,000 after purchasing an additional 109,210 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Recursion Pharmaceuticals by 25.1% during the 3rd quarter. Victory Capital Management Inc. now owns 27,394 shares of the company’s stock valued at $181,000 after purchasing an additional 5,503 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Privium Fund Management B.V. lifted its holdings in Recursion Pharmaceuticals by 50.0% during the 3rd quarter. Privium Fund Management B.V. now owns 78,000 shares of the company’s stock valued at $514,000 after purchasing an additional 26,000 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

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.