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

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Monday, Benzinga reports. They presently have a $8.00 price objective on the stock. Needham & Company LLC‘s target price points to a potential upside of 119.78% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Morgan Stanley set a $5.90 price target on shares of Recursion Pharmaceuticals in a research report on Friday, October 16th. Wall Street Zen upgraded shares of Recursion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of “Hold” and an average target price of $8.18.

Recursion Pharmaceuticals Stock Performance

Recursion Pharmaceuticals stock traded down $0.02 on Monday, hitting $3.64. The company’s stock had a trading volume of 19,287,395 shares, compared to its average volume of 19,582,646. Recursion Pharmaceuticals has a one year low of $2.77 and a one year high of $6.50. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $3.65 and a 200-day moving average price of $3.43. The firm has a market cap of $1.95 billion, a P/E ratio of -3.50 and a beta of 1.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $7.67 million during the quarter, compared to analyst estimates of $10.97 million. Recursion Pharmaceuticals had a negative return on equity of 50.41% and a negative net margin of 945.94%. During the same period in the prior year, the firm posted ($0.41) EPS. On average, equities analysts anticipate that Recursion Pharmaceuticals will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Blake Borgeson sold 50,000 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total transaction of $242,000.00. Following the completion of the transaction, the director directly owned 6,108,287 shares in the company, valued at $29,564,109.08. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert Hershberg sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $5.00, for a total value of $125,000.00. Following the sale, the director owned 162,156 shares in the company, valued at $810,780. The trade was a 13.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 157,408 shares of company stock worth $643,576 over the last ninety days. Company insiders own 6.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC lifted its holdings in shares of Recursion Pharmaceuticals by 261.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 41,948 shares of the company’s stock worth $173,000 after buying an additional 30,354 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Recursion Pharmaceuticals by 73.1% during the third quarter. Abel Hall LLC now owns 22,856 shares of the company’s stock worth $94,000 after buying an additional 9,651 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 193.2% during the third quarter. TD Waterhouse Canada Inc. now owns 59,613 shares of the company’s stock worth $243,000 after buying an additional 39,282 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Recursion Pharmaceuticals by 62.3% during the third quarter. Green Alpha Advisors LLC now owns 239,404 shares of the company’s stock worth $989,000 after buying an additional 91,860 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Recursion Pharmaceuticals during the third quarter worth $199,000. Institutional investors own 89.06% of the company’s stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc is a biotechnology company that uses advanced computing, artificial intelligence and automated biology to discover and develop new medicines. The company’s platform, known as the Recursion Operating System, combines large-scale biological experimentation with machine learning and data analysis to identify potential drug candidates and characterize how diseases respond to treatments.

Recursion applies its technology to a range of therapeutic areas, including oncology, rare diseases, neuroscience and infectious diseases.