Recursion Pharmaceuticals (NASDAQ:RXRX) Given New $11.00 Price Target at Needham & Company LLC

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target lowered by Needham & Company LLC from $16.00 to $11.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on RXRX. Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a market perform rating for the company in a research report on Tuesday. Jefferies Financial Group cut their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a hold rating for the company in a report on Tuesday. Finally, KeyCorp dropped their target price on Recursion Pharmaceuticals from $16.00 to $12.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Recursion Pharmaceuticals has a consensus rating of Hold and a consensus price target of $9.40.

Recursion Pharmaceuticals Stock Up 0.5 %

NASDAQ:RXRX opened at $6.10 on Wednesday. The business’s fifty day moving average price is $7.38 and its 200 day moving average price is $8.92. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -3.81 and a beta of 0.82. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals has a 1-year low of $4.97 and a 1-year high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). The business had revenue of $14.42 million during the quarter, compared to analyst estimates of $11.96 million. Recursion Pharmaceuticals had a negative net margin of 755.37% and a negative return on equity of 79.47%. Recursion Pharmaceuticals’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. On average, sell-side analysts forecast that Recursion Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.51, for a total transaction of $108,860.97. Following the completion of the sale, the director now owns 7,177,116 shares in the company, valued at approximately $68,254,373.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.51, for a total value of $108,860.97. Following the completion of the sale, the director now directly owns 7,177,116 shares in the company, valued at $68,254,373.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Gibson sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $7.48, for a total transaction of $374,000.00. Following the sale, the chief executive officer now directly owns 758,738 shares of the company’s stock, valued at $5,675,360.24. The disclosure for this sale can be found here. Insiders have sold a total of 211,682 shares of company stock worth $1,615,272 over the last three months. Corporate insiders own 15.75% of the company’s stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RXRX. Benjamin F. Edwards & Company Inc. bought a new position in Recursion Pharmaceuticals in the 1st quarter worth approximately $26,000. National Bank of Canada FI increased its position 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 acquiring an additional 1,500 shares during the period. First Horizon Advisors Inc. acquired a new position in Recursion Pharmaceuticals during the 4th quarter valued at $47,000. GAMMA Investing LLC boosted its holdings in Recursion Pharmaceuticals by 1,588.4% in the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock valued at $48,000 after purchasing an additional 6,036 shares during the period. Finally, Amalgamated Bank grew its position in Recursion Pharmaceuticals by 52.4% in the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after purchasing an additional 2,459 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

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.