Recursion Pharmaceuticals (NASDAQ:RXRX) Upgraded at JPMorgan Chase & Co.

Recursion Pharmaceuticals (NASDAQ:RXRX) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $11.00 price target on the stock, up from their prior price target of $10.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 161.90% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Wednesday, October 8th. Morgan Stanley set a $11.00 price objective on Recursion Pharmaceuticals in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ RXRX opened at $4.20 on Wednesday. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.18 billion, a P/E ratio of -2.33 and a beta of 0.94. Recursion Pharmaceuticals has a 52 week low of $3.79 and a 52 week high of $12.36. The business has a 50-day simple moving average of $5.03 and a two-hundred day simple moving average of $5.14.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.02. Recursion Pharmaceuticals had a negative net margin of 1,637.81% and a negative return on equity of 72.74%. The firm had revenue of $5.18 million for the quarter, compared to the consensus estimate of $19.36 million. During the same period in the prior year, the firm posted ($0.34) earnings per share. The company’s revenue for the quarter was down 80.1% on a year-over-year basis. Research analysts anticipate that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 220,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $961,400.00. Following the transaction, the director owned 6,869,863 shares of the company’s stock, valued at $30,021,301.31. This represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.43% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Brighton Jones LLC lifted its position in Recursion Pharmaceuticals by 49.4% in the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company’s stock worth $137,000 after buying an additional 6,699 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Recursion Pharmaceuticals by 34.7% during the first quarter. PNC Financial Services Group Inc. now owns 13,229 shares of the company’s stock worth $70,000 after acquiring an additional 3,409 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Recursion Pharmaceuticals by 13.4% in the 1st quarter. Invesco Ltd. now owns 202,531 shares of the company’s stock worth $1,071,000 after acquiring an additional 23,912 shares during the last quarter. Nuveen LLC bought a new stake in shares of Recursion Pharmaceuticals in the 1st quarter worth approximately $10,118,000. Finally, Fox Run Management L.L.C. boosted its stake in shares of Recursion Pharmaceuticals by 91.5% in the 1st quarter. Fox Run Management L.L.C. now owns 59,525 shares of the company’s stock valued at $315,000 after purchasing an additional 28,447 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.