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

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 46.86% from the company’s previous close.

Separately, KeyCorp cut their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th.

Recursion Pharmaceuticals Stock Performance

NASDAQ:RXRX opened at $7.49 on Thursday. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $7.15 and a 200 day moving average price of $6.91. The firm has a market capitalization of $2.93 billion, a PE ratio of -4.90 and a beta of 0.86. Recursion Pharmaceuticals has a 12-month low of $5.60 and a 12-month high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 company had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same quarter last year, the business earned ($0.43) EPS. Recursion Pharmaceuticals’s quarterly revenue was up 147.6% compared to the same quarter last year. Research analysts anticipate that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $7.64, for a total transaction of $87,455.08. Following the transaction, the director now owns 7,066,113 shares in the company, valued at $53,985,103.32. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Secora sold 15,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares in the company, valued at approximately $11,487,173.46. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. 15.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of large investors have recently modified their holdings of RXRX. Charles Schwab Investment Management Inc. raised its position in Recursion Pharmaceuticals by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after purchasing an additional 288,926 shares during the last quarter. Accel Wealth Management bought a new stake in Recursion Pharmaceuticals during the 4th quarter worth about $310,000. FMR LLC boosted its stake in shares of Recursion Pharmaceuticals by 2.1% in the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock valued at $55,116,000 after purchasing an additional 170,810 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $580,000. Finally, State Street Corp grew its position in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.