Recursion Pharmaceuticals (NASDAQ:RXRX) Now Covered by Morgan Stanley

Morgan Stanley began coverage on shares of Recursion Pharmaceuticals (NASDAQ:RXRX) in a research note published on Thursday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $5.00 price objective on the stock.

Separately, Needham & Company LLC lowered their price objective on Recursion Pharmaceuticals from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $7.00.

Recursion Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:RXRX opened at $5.26 on Thursday. The business’s 50 day moving average price is $4.85 and its 200-day moving average price is $6.12. Recursion Pharmaceuticals has a 1 year low of $3.79 and a 1 year high of $12.36. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.11 and a quick ratio of 4.11.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). The company had revenue of $14.75 million for the quarter, compared to analysts’ expectations of $18.12 million. Recursion Pharmaceuticals had a negative net margin of 961.32% and a negative return on equity of 74.70%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.39) earnings per share. On average, equities research analysts forecast that Recursion Pharmaceuticals will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Softbank Group CORP. purchased a new stake in Recursion Pharmaceuticals during the 4th quarter valued at about $99,152,000. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth $68,375,000. Vanguard Group Inc. boosted its position in shares of Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock valued at $229,908,000 after acquiring an additional 9,737,196 shares during the last quarter. 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 during the period. Finally, Norges Bank acquired a new stake in Recursion Pharmaceuticals during the fourth quarter worth about $23,429,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.