Recursion Pharmaceuticals (NASDAQ:RXRX) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Recursion Pharmaceuticals (NASDAQ:RXRXGet Rating) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Recursion Pharmaceuticals Inc. is a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, data science and engineering. Recursion Pharmaceuticals Inc. is based in SALT LAKE CITY. “

A number of other research analysts have also recently weighed in on the stock. SVB Leerink cut shares of Recursion Pharmaceuticals from an outperform rating to a market perform rating and lowered their target price for the company from $32.00 to $10.00 in a research note on Friday, March 4th. Bank of America downgraded shares of Recursion Pharmaceuticals from a buy rating to a neutral rating and set a $10.00 price target on the stock. in a report on Monday, April 18th. Finally, The Goldman Sachs Group lowered their price target on shares of Recursion Pharmaceuticals from $32.00 to $10.00 and set a neutral rating for the company in a research report on Thursday, March 24th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Recursion Pharmaceuticals has an average rating of Hold and an average price target of $17.40.

Recursion Pharmaceuticals stock opened at $6.11 on Tuesday. The company has a market cap of $1.04 billion and a price-to-earnings ratio of -4.70. The business’s 50 day simple moving average is $6.62 and its 200 day simple moving average is $12.17. Recursion Pharmaceuticals has a 12 month low of $4.92 and a 12 month high of $42.81.

Recursion Pharmaceuticals (NASDAQ:RXRXGet Rating) last posted its earnings results on Wednesday, March 23rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Recursion Pharmaceuticals had a negative return on equity of 37.18% and a negative net margin of 1,635.19%. The firm had revenue of $2.53 million for the quarter, compared to analysts’ expectations of $7.62 million. Equities analysts anticipate that Recursion Pharmaceuticals will post -1.38 earnings per share for the current year.

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 37,605 shares of Recursion Pharmaceuticals stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $6.09, for a total transaction of $229,014.45. Following the completion of the sale, the chief executive officer now directly owns 469,608 shares in the company, valued at $2,859,912.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 978,133 shares of company stock worth $7,023,769 over the last ninety days.

Several large investors have recently modified their holdings of RXRX. Morgan Stanley purchased a new stake in Recursion Pharmaceuticals in the 2nd quarter valued at $41,000. Royal Bank of Canada acquired a new stake in Recursion Pharmaceuticals in the 2nd quarter valued at about $53,000. Bank of America Corp DE purchased a new position in Recursion Pharmaceuticals in the 2nd quarter valued at about $288,000. Invesco Ltd. purchased a new position in Recursion Pharmaceuticals in the 2nd quarter valued at about $205,000. Finally, SG Americas Securities LLC purchased a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $282,000. Institutional investors and hedge funds own 55.25% of the company’s stock.

Recursion Pharmaceuticals Company Profile (Get Rating)

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.

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