Needham & Company LLC Reaffirms Buy Rating for Recursion Pharmaceuticals (NASDAQ:RXRX)

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

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reduced their price target 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, September 3rd. Leerink Partners reduced their price target on shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals Price Performance

Shares of RXRX stock opened at $5.70 on Wednesday. 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’s 50-day moving average is $6.62 and its two-hundred day moving average is $7.50. Recursion Pharmaceuticals has a 12 month low of $5.60 and a 12 month high of $15.74. The company has a market capitalization of $1.63 billion, a PE ratio of -3.73 and a beta of 0.81.

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

Insider Activity

In related news, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.27, for a total value of $71,772.69. Following the completion of the sale, the director now owns 7,121,322 shares in the company, valued at $44,650,688.94. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Gibson sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares of the company’s stock, valued at $4,606,442.24. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,682 shares of company stock worth $1,133,471. Corporate insiders own 15.75% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RXRX. Allspring Global Investments Holdings LLC purchased a new stake in Recursion Pharmaceuticals in the third quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its holdings 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. GAMMA Investing LLC grew its holdings in Recursion Pharmaceuticals by 1,588.4% in the second quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock valued at $48,000 after purchasing an additional 6,036 shares during the period. KBC Group NV grew its holdings in Recursion Pharmaceuticals by 79.9% in the third 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 period. Finally, Amalgamated Bank grew its holdings in Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after purchasing an additional 2,459 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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.