KeyCorp Issues Pessimistic Forecast for Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price

Recursion Pharmaceuticals (NASDAQ:RXRX) had its price target trimmed by KeyCorp from $12.00 to $10.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Recursion Pharmaceuticals Price Performance

Recursion Pharmaceuticals stock opened at $7.26 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -4.75 and a beta of 0.85. The company’s 50 day simple moving average is $6.91 and its 200-day simple moving average is $7.02. Recursion Pharmaceuticals has a 1 year low of $5.60 and a 1 year high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same period in the previous year, the firm earned ($0.43) EPS. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. As a group, equities research analysts expect that Recursion Pharmaceuticals will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Tina Marriott sold 6,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $6.31, for a total transaction of $37,860.00. Following the completion of the transaction, the chief operating officer now owns 521,138 shares in the company, valued at approximately $3,288,380.78. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,341 shares of company stock valued at $393,490 in the last three months. 15.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXRX. Bank of New York Mellon Corp increased its stake in Recursion Pharmaceuticals by 20.3% in the second quarter. Bank of New York Mellon Corp now owns 1,060,804 shares of the company’s stock valued at $7,956,000 after purchasing an additional 178,994 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Recursion Pharmaceuticals by 25.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 44,241 shares of the company’s stock valued at $332,000 after buying an additional 9,058 shares in the last quarter. Rhumbline Advisers grew its position in shares of Recursion Pharmaceuticals by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 281,348 shares of the company’s stock valued at $2,110,000 after buying an additional 54,576 shares during the last quarter. Victory Capital Management Inc. raised its stake in Recursion Pharmaceuticals by 13.5% during the 2nd quarter. Victory Capital Management Inc. now owns 21,891 shares of the company’s stock worth $164,000 after acquiring an additional 2,598 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Recursion Pharmaceuticals by 11.1% in the second quarter. Arizona State Retirement System now owns 47,691 shares of the company’s stock valued at $358,000 after acquiring an additional 4,760 shares during the last quarter. Hedge funds and other institutional investors 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.