Needham & Company LLC Cuts Recursion Pharmaceuticals (NASDAQ:RXRX) Price Target to $11.00

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target trimmed by Needham & Company LLC from $16.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on RXRX. Leerink Partners lowered their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a market perform rating for the company in a research report on Tuesday. KeyCorp lowered their price target on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an overweight rating for the company in a report on Thursday, July 11th. Finally, Jefferies Financial Group reduced their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a hold rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $9.40.

Recursion Pharmaceuticals Trading Down 4.1 %

RXRX opened at $5.92 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. Recursion Pharmaceuticals has a fifty-two week low of $4.97 and a fifty-two week high of $15.74. The company’s 50 day moving average price is $7.33 and its two-hundred day moving average price is $8.85. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.70 and a beta of 0.82.

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 the consensus estimate of ($0.35) by ($0.05). The business had revenue of $14.42 million during the quarter, compared to the consensus estimate of $11.96 million. Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.38) EPS. As a group, research analysts predict that Recursion Pharmaceuticals will post -1.6 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total transaction of $96,727.15. Following the completion of the sale, the director now owns 7,188,563 shares of the company’s stock, valued at approximately $60,743,357.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Michael Secora sold 15,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $9.32, for a total transaction of $139,800.00. Following the transaction, the chief financial officer now owns 1,243,468 shares of the company’s stock, valued at approximately $11,589,121.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total value of $96,727.15. Following the completion of the sale, the director now directly owns 7,188,563 shares of the company’s stock, valued at $60,743,357.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,129 shares of company stock valued at $1,807,845. 15.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. International Assets Investment Management LLC lifted its holdings in shares of Recursion Pharmaceuticals by 1,423.8% in the 4th quarter. International Assets Investment Management LLC now owns 16,762 shares of the company’s stock worth $1,700,000 after purchasing an additional 15,662 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Recursion Pharmaceuticals by 21.1% in the fourth quarter. New York State Common Retirement Fund now owns 58,414 shares of the company’s stock valued at $576,000 after purchasing an additional 10,177 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Recursion Pharmaceuticals by 34.1% during the fourth quarter. Victory Capital Management Inc. now owns 20,441 shares of the company’s stock valued at $202,000 after buying an additional 5,195 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in Recursion Pharmaceuticals during the fourth quarter worth $47,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Recursion Pharmaceuticals in the 4th quarter valued at $227,000. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Company Profile

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.