Recursion Pharmaceuticals (NASDAQ:RXRX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRXFree Report) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $17.00 target price on the stock.

Several other analysts also recently weighed in on the company. KeyCorp upped their price target on Recursion Pharmaceuticals from $15.00 to $16.00 and gave the stock an overweight rating in a research note on Monday, March 4th. TD Cowen assumed coverage on Recursion Pharmaceuticals in a research note on Friday, January 26th. They issued a market perform rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $12.75.

Read Our Latest Research Report on RXRX

Recursion Pharmaceuticals Stock Performance

RXRX stock opened at $8.41 on Tuesday. Recursion Pharmaceuticals has a fifty-two week low of $4.54 and a fifty-two week high of $16.75. The business’s 50 day moving average price is $10.93 and its two-hundred day moving average price is $9.09. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -5.43 and a beta of 0.76.

Recursion Pharmaceuticals (NASDAQ:RXRXGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.06. Recursion Pharmaceuticals had a negative return on equity of 72.88% and a negative net margin of 735.99%. The firm had revenue of $10.89 million for the quarter, compared to the consensus estimate of $12.37 million. Sell-side analysts forecast that Recursion Pharmaceuticals will post -1.63 earnings per share for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, insider Shafique Virani sold 18,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $10.93, for a total transaction of $196,740.00. Following the sale, the insider now directly owns 136,748 shares in the company, valued at approximately $1,494,655.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Recursion Pharmaceuticals news, insider Shafique Virani sold 18,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $10.93, for a total transaction of $196,740.00. Following the sale, the insider now directly owns 136,748 shares in the company, valued at approximately $1,494,655.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $8.82, for a total value of $100,962.54. Following the sale, the director now owns 7,241,308 shares in the company, valued at $63,868,336.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 384,701 shares of company stock worth $4,026,461. Insiders own 19.96% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RXRX. Comerica Bank lifted its holdings in shares of Recursion Pharmaceuticals by 966.9% during the 4th quarter. Comerica Bank now owns 2,838 shares of the company’s stock valued at $28,000 after buying an additional 2,572 shares during the period. National Bank of Canada FI lifted its holdings in shares of Recursion Pharmaceuticals by 90.9% during the 4th quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Recursion Pharmaceuticals by 116.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,237 shares of the company’s stock valued at $40,000 after buying an additional 2,817 shares during the period. KBC Group NV bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at $42,000. Finally, First Horizon Advisors Inc. bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at $47,000. 89.06% of the stock is owned by institutional investors.

About Recursion Pharmaceuticals

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Recursion Pharmaceuticals (NASDAQ:RXRX)

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