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

Recursion Pharmaceuticals (NASDAQ:RXRX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They presently have a $8.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 118.58% from the stock’s current price.

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

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ:RXRX opened at $3.66 on Monday. Recursion Pharmaceuticals has a one year low of $2.77 and a one year high of $6.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 5.03. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -3.52 and a beta of 1.04. The firm has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $3.43.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $7.67 million for the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.41) EPS. Research analysts predict that Recursion Pharmaceuticals will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 50,000 shares of Recursion Pharmaceuticals stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $4.84, for a total transaction of $242,000.00. Following the transaction, the director owned 6,108,287 shares in the company, valued at approximately $29,564,109.08. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Recursion Pharmaceuticals stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $5.00, for a total transaction of $125,000.00. Following the transaction, the director owned 162,156 shares in the company, valued at approximately $810,780. This trade represents a 13.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 157,408 shares of company stock worth $643,576. 6.65% of the stock is currently owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in Recursion Pharmaceuticals in the first quarter valued at $7,370,000. Hsbc Holdings PLC raised its holdings in shares of Recursion Pharmaceuticals by 537.3% during the fourth quarter. Hsbc Holdings PLC now owns 818,316 shares of the company’s stock valued at $3,367,000 after purchasing an additional 689,903 shares during the period. Bank of America Corp DE raised its holdings in shares of Recursion Pharmaceuticals by 18.2% during the first quarter. Bank of America Corp DE now owns 2,496,831 shares of the company’s stock valued at $7,665,000 after purchasing an additional 384,486 shares during the period. First Trust Advisors LP boosted its position in shares of Recursion Pharmaceuticals by 15.2% during the 1st quarter. First Trust Advisors LP now owns 2,610,726 shares of the company’s stock worth $8,015,000 after purchasing an additional 344,035 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Recursion Pharmaceuticals by 29.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,462,631 shares of the company’s stock worth $4,490,000 after purchasing an additional 331,048 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 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.