Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They currently have a $8.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 121.91% from the company’s current price.

Several other research firms have also issued reports on RXRX. Wall Street Zen raised shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Morgan Stanley set a $5.90 price objective on Recursion Pharmaceuticals in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Recursion Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $8.18.

Recursion Pharmaceuticals Stock Performance

Shares of NASDAQ RXRX traded down $0.01 during mid-day trading on Monday, hitting $3.61. The company had a trading volume of 14,318,328 shares, compared to its average volume of 19,548,580. Recursion Pharmaceuticals has a 12 month low of $2.77 and a 12 month high of $6.70. The firm has a market cap of $1.93 billion, a P/E ratio of -3.47 and a beta of 1.04. The business’s 50-day simple moving average is $3.64 and its 200-day simple moving average is $3.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 945.94% and a negative return on equity of 50.41%. The firm had revenue of $7.67 million for the quarter, compared to the consensus estimate of $10.97 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, analysts predict that Recursion Pharmaceuticals will post -0.94 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total value of $242,000.00. Following the completion of the sale, the director owned 6,108,287 shares in the company, valued at approximately $29,564,109.08. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Najat Khan sold 22,408 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $3.52, for a total transaction of $78,876.16. Following the sale, the chief executive officer directly owned 2,072,890 shares in the company, valued at $7,296,572.80. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 157,408 shares of company stock worth $643,576. Insiders own 6.65% of the company’s stock.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Recursion Pharmaceuticals during the 1st quarter worth about $7,370,000. Hsbc Holdings PLC raised its position in shares of Recursion Pharmaceuticals by 537.3% in the 4th quarter. Hsbc Holdings PLC now owns 818,316 shares of the company’s stock valued at $3,367,000 after acquiring an additional 689,903 shares during the period. Bank of America Corp DE raised its position in shares of Recursion Pharmaceuticals by 18.2% in the 1st quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock valued at $7,665,000 after acquiring an additional 384,486 shares during the period. First Trust Advisors LP grew its holdings in shares of Recursion Pharmaceuticals by 15.2% in the 1st quarter. First Trust Advisors LP now owns 2,610,726 shares of the company’s stock valued at $8,015,000 after buying an additional 344,035 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Recursion Pharmaceuticals by 29.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,462,631 shares of the company’s stock valued at $4,490,000 after buying an additional 331,048 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc is a clinical-stage biotechnology company that uses biology, chemistry, automation and machine learning to discover and develop new medicines. The company’s technology platform is designed to generate and analyze large volumes of biological and chemical data, helping researchers identify potential drug candidates and better understand disease mechanisms.

Recursion has focused its research and development activities on areas including oncology, rare diseases and neuroscience.