Recursion Pharmaceuticals’ (RXRX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRX) in a research note published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $17.00 target price on the stock.

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

Recursion Pharmaceuticals Stock Down 1.0 %

Shares of RXRX opened at $7.50 on Tuesday. The stock’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $9.92. The firm has a market capitalization of $1.78 billion, a PE ratio of -4.69 and a beta of 0.86. Recursion Pharmaceuticals has a 12-month low of $4.97 and a 12-month high of $16.75.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released 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 net margin of 765.90% and a negative return on equity of 79.96%. The company had revenue of $13.80 million for the quarter, compared to the consensus estimate of $11.10 million. During the same period in the prior year, the company posted ($0.34) EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Analysts anticipate that Recursion Pharmaceuticals will post -1.6 EPS for the current year.

Insider Activity at Recursion Pharmaceuticals

In other news, CEO Christopher Gibson sold 40,000 shares of Recursion Pharmaceuticals stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total transaction of $353,600.00. Following the transaction, the chief executive officer now directly owns 978,524 shares of the company’s stock, valued at $8,650,152.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total transaction of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares in the company, valued at approximately $3,860,644.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Gibson sold 40,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total transaction of $353,600.00. Following the completion of the transaction, the chief executive officer now directly owns 978,524 shares in the company, valued at approximately $8,650,152.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,806 shares of company stock worth $2,158,997. 15.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mubadala Investment Co PJSC acquired a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $128,041,000. Citigroup Inc. raised its position in Recursion Pharmaceuticals by 165.3% in the 3rd quarter. Citigroup Inc. now owns 470,512 shares of the company’s stock valued at $3,599,000 after buying an additional 293,174 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in Recursion Pharmaceuticals in the 4th quarter valued at approximately $133,000. Norges Bank bought a new stake in Recursion Pharmaceuticals in the 4th quarter valued at approximately $34,825,000. Finally, UBS Group AG grew its stake in shares of Recursion Pharmaceuticals by 103.1% during the 3rd quarter. UBS Group AG now owns 342,679 shares of the company’s stock worth $2,621,000 after acquiring an additional 173,954 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

About Recursion Pharmaceuticals

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.