Recursion Pharmaceuticals (NASDAQ:RXRX) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Recursion Pharmaceuticals (NASDAQ:RXRX) from a neutral rating to an overweight rating in a research note published on Wednesday, MarketBeat reports. The brokerage currently has $11.00 target price on the stock, up from their previous target price of $10.00.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Morgan Stanley set a $11.00 price objective on Recursion Pharmaceuticals in a research report on Wednesday. UBS Group set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Recursion Pharmaceuticals has an average rating of “Hold” and an average target price of $9.50.

Recursion Pharmaceuticals Price Performance

Shares of RXRX stock opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.60 and a quick ratio of 4.60. The company has a market capitalization of $2.43 billion, a PE ratio of -2.60 and a beta of 0.94. The firm’s 50-day moving average is $5.00 and its two-hundred day moving average is $5.14. Recursion Pharmaceuticals has a 12 month low of $3.79 and a 12 month high of $12.36.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.02. The business had revenue of $5.18 million during the quarter, compared to the consensus estimate of $19.36 million. Recursion Pharmaceuticals had a negative net margin of 1,637.81% and a negative return on equity of 72.74%. The business’s revenue was down 80.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) EPS. Analysts predict that Recursion Pharmaceuticals will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Blake Borgeson sold 220,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $961,400.00. Following the completion of the transaction, the director directly owned 6,869,863 shares in the company, valued at $30,021,301.31. This trade represents a 3.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.43% of the stock is owned by company insiders.

Institutional Trading of Recursion Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Recursion Pharmaceuticals by 183.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,408,524 shares of the company’s stock valued at $33,901,000 after purchasing an additional 4,149,346 shares in the last quarter. Vanguard Group Inc. boosted its position in Recursion Pharmaceuticals by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,780,153 shares of the company’s stock valued at $194,127,000 after buying an additional 3,708,975 shares during the period. Norges Bank acquired a new position in shares of Recursion Pharmaceuticals in the second quarter worth $16,040,000. Nuveen LLC acquired a new position in shares of Recursion Pharmaceuticals in the first quarter worth $10,118,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Recursion Pharmaceuticals during the third quarter worth $7,954,000. Institutional investors and hedge funds 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.