Recursion Pharmaceuticals’ (RXRX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRX) in a report released on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group lowered their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Leerink Partners lowered their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Performance

Shares of NASDAQ:RXRX opened at $6.95 on Wednesday. The business’s 50 day moving average price is $6.73 and its 200-day moving average price is $7.27. Recursion Pharmaceuticals has a 1 year low of $5.60 and a 1 year high of $15.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The firm has a market capitalization of $1.99 billion, a PE ratio of -4.54 and a beta of 0.85.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. Recursion Pharmaceuticals’s quarterly revenue was up 147.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.43) EPS. As a group, equities research analysts expect that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total value of $71,200.34. Following the transaction, the director now owns 7,098,428 shares of the company’s stock, valued at $44,152,222.16. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $7.00, for a total value of $42,000.00. Following the sale, the chief operating officer now directly owns 521,138 shares of the company’s stock, valued at $3,647,966. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,235 shares of company stock valued at $802,988 in the last 90 days. Company insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its position in Recursion Pharmaceuticals by 176.9% in the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after purchasing an additional 4,091 shares during the period. Amalgamated Bank lifted its stake in Recursion Pharmaceuticals by 52.4% during the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after purchasing an additional 2,459 shares in the last quarter. KBC Group NV boosted its position in shares of Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock worth $50,000 after buying an additional 3,377 shares during the period. Finally, San Luis Wealth Advisors LLC acquired a new stake in shares of Recursion Pharmaceuticals in the third quarter valued at $69,000. 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.