Recursion Pharmaceuticals (NASDAQ:RXRX) Price Target Cut to $8.00 by Analysts at SVB Leerink

Recursion Pharmaceuticals (NASDAQ:RXRX – Get Rating) had its target price lowered by SVB Leerink from $9.00 to $8.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Separately, The Goldman Sachs Group raised their target price on Recursion Pharmaceuticals from $8.00 to $9.00 and gave the stock a neutral rating in a report on Wednesday, November 9th.

Recursion Pharmaceuticals Price Performance

NASDAQ RXRX opened at $8.71 on Monday. The business’s fifty day moving average price is $8.62 and its 200-day moving average price is $9.78. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -6.05 and a beta of -0.47. Recursion Pharmaceuticals has a 1-year low of $4.92 and a 1-year high of $14.18.

Recursion Pharmaceuticals (NASDAQ:RXRX – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.01. Recursion Pharmaceuticals had a negative return on equity of 53.04% and a negative net margin of 860.34%. The firm had revenue of $13.16 million for the quarter, compared to analysts’ expectations of $6.43 million. Equities research analysts anticipate that Recursion Pharmaceuticals will post -1.38 EPS for the current year.

Insider Buying and Selling

In related news, Director Blake Borgeson sold 8,885 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $7.25, for a total value of $64,416.25. Following the transaction, the director now directly owns 7,628,272 shares of the company’s stock, valued at approximately $55,304,972. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Recursion Pharmaceuticals news, insider Shafique Virani sold 10,000 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $12.31, for a total value of $123,100.00. Following the completion of the sale, the insider now owns 83,160 shares in the company, valued at approximately $1,023,699.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Blake Borgeson sold 8,885 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $7.25, for a total value of $64,416.25. Following the completion of the sale, the director now owns 7,628,272 shares of the company’s stock, valued at approximately $55,304,972. The disclosure for this sale can be found here. In the last three months, insiders have purchased 297,727 shares of company stock valued at $2,233,995 and have sold 215,713 shares valued at $2,038,657. 22.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Recursion Pharmaceuticals by 26.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 503,941 shares of the company’s stock worth $5,362,000 after buying an additional 104,588 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Recursion Pharmaceuticals in the 3rd quarter worth $1,750,000. Advisory Research Inc. grew its position in shares of Recursion Pharmaceuticals by 56.6% during the third quarter. Advisory Research Inc. now owns 96,803 shares of the company’s stock valued at $1,030,000 after purchasing an additional 34,999 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new position in shares of Recursion Pharmaceuticals during the third quarter valued at about $1,139,000. Finally, State Street Corp grew its position in shares of Recursion Pharmaceuticals by 114.3% during the third quarter. State Street Corp now owns 4,555,759 shares of the company’s stock valued at $48,473,000 after purchasing an additional 2,430,027 shares in the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.

About Recursion Pharmaceuticals

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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 IIa clinical trial to treat cerebral cavernous malformation; REC-2282 for the treatment of neurofibromatosis type 2; REC-4881 to treat familial adenomatous polyposis; and REC-3599, which is in Phase I clinical trial to treat GM2 gangliosidosis.