Recursion Pharmaceuticals (NASDAQ:RXRX) Given Buy Rating at Needham & Company LLC

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

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

Recursion Pharmaceuticals Stock Performance

Shares of NASDAQ RXRX opened at $9.38 on Tuesday. Recursion Pharmaceuticals has a 52-week low of $4.97 and a 52-week high of $16.75. The firm has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $9.94. The stock has a market cap of $2.23 billion, a P/E ratio of -5.86 and a beta of 0.86.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $13.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. Analysts predict that Recursion Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, CFO Michael Secora sold 23,124 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $7.58, for a total value of $175,279.92. Following the transaction, the chief financial officer now directly owns 1,231,055 shares of the company’s stock, valued at $9,331,396.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Recursion Pharmaceuticals news, CFO Michael Secora sold 23,124 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $7.58, for a total value of $175,279.92. Following the transaction, the chief financial officer now directly owns 1,231,055 shares of the company’s stock, valued at $9,331,396.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Gibson sold 40,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $10.10, for a total transaction of $404,000.00. Following the completion of the sale, the chief executive officer now owns 1,043,524 shares of the company’s stock, valued at approximately $10,539,592.40. The disclosure for this sale can be found here. Insiders have sold a total of 281,359 shares of company stock valued at $2,410,876 over the last ninety days. 15.75% of the stock is owned by corporate insiders.

Institutional Trading of Recursion Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Recursion Pharmaceuticals by 90.9% during the fourth quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the last quarter. Wedmont Private Capital increased its holdings in Recursion Pharmaceuticals by 11.8% during the first quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock worth $172,000 after buying an additional 2,000 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in Recursion Pharmaceuticals during the first quarter worth about $26,000. Arizona State Retirement System increased its holdings in Recursion Pharmaceuticals by 8.5% during the fourth quarter. Arizona State Retirement System now owns 39,926 shares of the company’s stock worth $394,000 after buying an additional 3,125 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Recursion Pharmaceuticals by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,359 shares of the company’s stock worth $161,000 after buying an additional 4,148 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.