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

Needham & Company LLC reaffirmed their buy rating on shares of Recursion Pharmaceuticals (NASDAQ:RXRX - Free Report) in a report released on Wednesday morning,Benzinga reports. They currently have a $11.00 target price on the stock.

Several other analysts also recently commented on the stock. Leerink Partners dropped their price objective on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group dropped their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.25.

Recursion Pharmaceuticals Stock Performance

NASDAQ:RXRX traded up $0.11 during trading hours on Wednesday, hitting $7.57. 14,669,516 shares of the company were exchanged, compared to its average volume of 6,458,838. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -4.84 and a beta of 0.85. Recursion Pharmaceuticals has a 52-week low of $5.60 and a 52-week high of $15.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The company's 50 day moving average price is $6.67 and its 200-day moving average price is $7.29.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to analysts' expectations of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm's revenue for the quarter was up 147.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) EPS. As a group, research analysts forecast that Recursion Pharmaceuticals will post -1.57 earnings per share for the current year.

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.84, for a total transaction of $78,297.48. Following the completion of the transaction, the director now directly owns 7,109,875 shares in the company, valued at approximately $48,631,545. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the transaction, the chief financial officer now owns 1,499,631 shares of the company's stock, valued at $11,487,173.46. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,235 shares of company stock worth $802,988 in the last three months. Company insiders own 15.75% of the company's stock.

Hedge Funds Weigh In On Recursion Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock worth $215,949,000 after buying an additional 4,626,268 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Recursion Pharmaceuticals by 10.5% during the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company's stock worth $199,425,000 after buying an additional 2,522,132 shares in the last quarter. State Street Corp grew its holdings in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock worth $84,815,000 after buying an additional 4,120,685 shares in the last quarter. FMR LLC grew its holdings in shares of Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock worth $55,116,000 after buying an additional 170,810 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 13.7% during the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock worth $35,803,000 after buying an additional 656,003 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 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.