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

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 47.95% from the stock’s current price.

Separately, KeyCorp reduced their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th.

Recursion Pharmaceuticals Trading Down 6.1 %

Recursion Pharmaceuticals stock traded down $0.49 during midday trading on Thursday, reaching $7.44. The stock had a trading volume of 41,973,899 shares, compared to its average volume of 18,423,371. Recursion Pharmaceuticals has a twelve month low of $5.60 and a twelve month high of $15.74. The stock has a market capitalization of $2.91 billion, a PE ratio of -4.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The stock’s 50-day simple moving average is $7.12 and its 200 day simple moving average is $6.91.

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

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals 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 of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $7.64, for a total value of $87,455.08. Following the sale, the director now directly owns 7,066,113 shares in the company, valued at approximately $53,985,103.32. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.75% of the stock is currently owned by insiders.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC raised its stake in Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after buying an additional 4,626,268 shares in the last quarter. State Street Corp raised 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 purchasing an additional 4,120,685 shares during the period. FMR LLC raised its position in shares of Recursion Pharmaceuticals by 2.1% during the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the period. Geode Capital Management LLC raised its position in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after purchasing an additional 656,003 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Recursion Pharmaceuticals by 17.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,274,003 shares of the company’s stock worth $15,372,000 after purchasing an additional 333,323 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.