Needham & Company LLC Lowers Recursion Pharmaceuticals (NASDAQ:RXRX) Price Target to $16.00

Recursion Pharmaceuticals (NASDAQ:RXRX) had its target price reduced by Needham & Company LLC from $17.00 to $16.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, KeyCorp reduced their target price on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an overweight rating for the company in a report on Thursday, July 11th.

Recursion Pharmaceuticals Trading Down 4.1 %

Shares of NASDAQ RXRX opened at $6.03 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of -3.77 and a beta of 0.83. The stock has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $9.29. Recursion Pharmaceuticals has a twelve month low of $4.97 and a twelve month high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The firm had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $11.96 million. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.38) earnings per share. On average, equities analysts predict that Recursion Pharmaceuticals will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher Gibson sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $7.10, for a total transaction of $213,000.00. Following the completion of the sale, the chief executive officer now directly owns 758,738 shares in the company, valued at $5,387,039.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher Gibson sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.10, for a total transaction of $213,000.00. Following the sale, the chief executive officer now directly owns 758,738 shares in the company, valued at approximately $5,387,039.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $6.82, for a total value of $78,068.54. Following the completion of the transaction, the director now directly owns 7,144,216 shares of the company’s stock, valued at $48,723,553.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,682 shares of company stock valued at $1,945,468. 15.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its position in Recursion Pharmaceuticals by 8.5% in the fourth quarter. Arizona State Retirement System now owns 39,926 shares of the company’s stock worth $394,000 after purchasing an additional 3,125 shares during the period. International Assets Investment Management LLC increased its stake in shares of Recursion Pharmaceuticals by 1,423.8% in the 4th quarter. International Assets Investment Management LLC now owns 16,762 shares of the company’s stock valued at $1,700,000 after acquiring an additional 15,662 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in 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 worth $90,749,000 after purchasing an additional 5,680,656 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Recursion Pharmaceuticals by 32.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,658 shares of the company’s stock worth $401,000 after buying an additional 10,033 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 1,508.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 11,759 shares of the company’s stock valued at $116,000 after purchasing an additional 11,028 shares in the last quarter. 89.06% of the stock is currently 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.