Recursion Pharmaceuticals (NASDAQ:RXRX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRX) in a research report sent to investors on Tuesday, Benzinga reports. Needham & Company LLC currently has a $17.00 price objective on the stock.

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

Recursion Pharmaceuticals Stock Performance

Shares of Recursion Pharmaceuticals stock opened at $7.58 on Tuesday. The business’s 50 day simple moving average is $8.84 and its 200 day simple moving average is $9.92. Recursion Pharmaceuticals has a 52-week low of $4.97 and a 52-week high of $16.75. The firm has a market cap of $1.80 billion, a PE ratio of -4.73 and a beta of 0.86.

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

Insiders Place Their Bets

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.51, for a total transaction of $108,860.97. Following the transaction, the director now owns 7,177,116 shares of the company’s stock, valued at approximately $68,254,373.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Tina Marriott sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $8.78, for a total transaction of $26,340.00. Following the transaction, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at approximately $4,701,312.46. The transaction 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 the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.51, for a total value of $108,860.97. Following the transaction, the director now directly owns 7,177,116 shares in the company, valued at $68,254,373.16. The disclosure for this sale can be found here. Insiders have sold 252,806 shares of company stock valued at $2,115,737 in the last 90 days. 15.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. National Bank of Canada FI increased its holdings in shares of Recursion Pharmaceuticals by 90.9% during the 4th quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares during the last quarter. Wedmont Private Capital boosted its stake in Recursion Pharmaceuticals by 11.8% in the 1st quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock valued at $172,000 after purchasing an additional 2,000 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Recursion Pharmaceuticals in the 1st quarter valued at $26,000. Arizona State Retirement System boosted its stake in Recursion Pharmaceuticals by 8.5% in the 4th quarter. Arizona State Retirement System now owns 39,926 shares of the company’s stock valued at $394,000 after purchasing an additional 3,125 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Recursion Pharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,359 shares of the company’s stock valued at $161,000 after purchasing an additional 4,148 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.