Recursion Pharmaceuticals (NASDAQ:RXRX) Given “Buy” Rating at Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $17.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 94.06% from the stock’s current price.

Separately, KeyCorp raised their target price on Recursion Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, March 4th.

Recursion Pharmaceuticals Price Performance

RXRX opened at $8.76 on Tuesday. The firm has a 50 day simple moving average of $8.83 and a 200 day simple moving average of $9.93. Recursion Pharmaceuticals has a fifty-two week low of $4.97 and a fifty-two week high of $16.75. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -5.47 and a beta of 0.86.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Thursday, May 9th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. The firm had revenue of $13.80 million during the quarter, compared to analyst estimates of $11.10 million. During the same quarter in the previous year, the business earned ($0.34) EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts expect that Recursion Pharmaceuticals will post -1.6 EPS for the current year.

Insider Activity

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $8.82, for a total value of $100,962.54. Following the completion of the transaction, the director now directly owns 7,241,308 shares of the company’s stock, valued at $63,868,336.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $8.82, for a total value of $100,962.54. Following the transaction, the director now owns 7,241,308 shares of the company’s stock, valued at $63,868,336.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Gibson sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total transaction of $353,600.00. Following the completion of the transaction, the chief executive officer now owns 978,524 shares of the company’s stock, valued at approximately $8,650,152.16. The disclosure for this sale can be found here. Insiders sold 241,359 shares of company stock valued at $2,006,876 in the last quarter. Company insiders own 15.75% of the company’s stock.

Institutional Trading of Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC boosted its position in shares of Recursion Pharmaceuticals by 200.4% during the fourth quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company’s stock worth $203,651,000 after buying an additional 13,777,689 shares during the period. Mubadala Investment Co PJSC bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $128,041,000. FMR LLC grew its stake in shares of Recursion Pharmaceuticals by 134.4% during the 3rd quarter. FMR LLC now owns 10,689,532 shares of the company’s stock worth $81,775,000 after acquiring an additional 6,129,935 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Recursion Pharmaceuticals by 161.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,203,780 shares of the company’s stock valued at $90,749,000 after purchasing an additional 5,680,656 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of Recursion Pharmaceuticals by 161.2% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock worth $90,565,000 after purchasing an additional 5,680,656 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.