Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Recursion Pharmaceuticals (NASDAQ:RXRX) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a report on Monday, October 19th. Morgan Stanley set a $5.90 target price on shares of Recursion Pharmaceuticals in a report on Friday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $8.18.

Recursion Pharmaceuticals Trading Up 0.6%

NASDAQ RXRX opened at $3.52 on Friday. The company has a fifty day simple moving average of $3.77 and a 200 day simple moving average of $3.52. Recursion Pharmaceuticals has a 12-month low of $2.77 and a 12-month high of $5.24. The company has a market cap of $1.88 billion, a P/E ratio of -3.91 and a beta of 1.15.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.22) EPS for the quarter, meeting analysts’ consensus estimates of ($0.22). Recursion Pharmaceuticals had a negative net margin of 697.15% and a negative return on equity of 47.85%. The business had revenue of $18.55 million during the quarter, compared to analyst estimates of $14.81 million. During the same quarter in the previous year, the business posted ($0.36) EPS. Sell-side analysts predict that Recursion Pharmaceuticals will post -0.89 EPS for the current year.

Insider Transactions at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 40,000 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $3.88, for a total value of $155,200.00. Following the completion of the sale, the director owned 6,068,287 shares in the company, valued at $23,544,953.56. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $5.00, for a total transaction of $125,000.00. Following the transaction, the director directly owned 162,156 shares in the company, valued at $810,780. The trade was a 13.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 167,408 shares of company stock worth $701,276 in the last quarter. 6.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently modified their holdings of RXRX. First Trust Advisors LP increased its position in shares of Recursion Pharmaceuticals by 15.2% during the first quarter. First Trust Advisors LP now owns 2,610,726 shares of the company’s stock valued at $8,015,000 after acquiring an additional 344,035 shares during the last quarter. Bank of America Corp DE boosted its position in Recursion Pharmaceuticals by 18.2% in the first quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock worth $7,665,000 after purchasing an additional 384,486 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Recursion Pharmaceuticals in the first quarter worth $7,370,000. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 331,048 shares during the period. Finally, Swiss National Bank grew its stake in Recursion Pharmaceuticals by 21.8% in the 1st quarter. Swiss National Bank now owns 877,000 shares of the company’s stock valued at $2,692,000 after purchasing an additional 156,700 shares during the period. 89.06% of the stock is owned by institutional investors.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc is a biotechnology company that uses advanced computing, artificial intelligence and automated biology to discover and develop new medicines. The company’s platform, known as the Recursion Operating System, combines large-scale biological experimentation with machine learning and data analysis to identify potential drug candidates and characterize how diseases respond to treatments.

Recursion applies its technology to a range of therapeutic areas, including oncology, rare diseases, neuroscience and infectious diseases.