Recursion Pharmaceuticals (NASDAQ:RXRX) Given New $12.00 Price Target at KeyCorp

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target lowered by KeyCorp from $16.00 to $12.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $17.00 target price on shares of Recursion Pharmaceuticals in a report on Tuesday, June 25th.

Recursion Pharmaceuticals Stock Performance

Shares of RXRX opened at $8.36 on Thursday. The stock has a 50 day simple moving average of $8.71 and a 200 day simple moving average of $9.77. Recursion Pharmaceuticals has a 52-week low of $4.97 and a 52-week high of $16.75. The firm has a market capitalization of $1.99 billion, a PE ratio of -5.22 and a beta of 0.83.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.10 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. Equities research analysts predict that Recursion Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $7.66, for a total transaction of $87,684.02. Following the sale, the director now owns 7,229,861 shares in the company, valued at $55,380,735.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher Gibson sold 50,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $7.48, for a total value of $374,000.00. Following the completion of the transaction, the chief executive officer now directly owns 758,738 shares of the company’s stock, valued at $5,675,360.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $7.66, for a total transaction of $87,684.02. Following the sale, the director now directly owns 7,229,861 shares in the company, valued at $55,380,735.26. The disclosure for this sale can be found here. Insiders sold a total of 283,806 shares of company stock worth $2,272,027 in the last three months. Insiders own 15.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in Recursion Pharmaceuticals by 200.4% in the 4th quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company’s stock valued at $203,651,000 after purchasing an additional 13,777,689 shares during the last quarter. Vanguard Group Inc. increased its position in Recursion Pharmaceuticals by 2.2% during the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock worth $159,667,000 after buying an additional 349,554 shares during the last quarter. Mubadala Investment Co PJSC bought a new stake in Recursion Pharmaceuticals in the fourth quarter valued at approximately $128,041,000. Kinnevik AB publ lifted its position in shares of Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Recursion Pharmaceuticals by 12.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,362,803 shares of the company’s stock worth $103,317,000 after acquiring an additional 1,159,023 shares during the period. Institutional investors own 89.06% of the company’s stock.

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.