Arizona State Retirement System Grows Stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Arizona State Retirement System increased its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 11.1% during the second quarter, Holdings Channel reports. The firm owned 47,691 shares of the company’s stock after acquiring an additional 4,760 shares during the quarter. Arizona State Retirement System’s holdings in Recursion Pharmaceuticals were worth $358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mubadala Investment Co PJSC purchased a new stake in Recursion Pharmaceuticals during the fourth quarter valued at $128,041,000. ARK Investment Management LLC raised its position in shares of Recursion Pharmaceuticals by 14.5% during the 2nd quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock valued at $211,072,000 after buying an additional 3,555,357 shares in the last quarter. Norges Bank bought a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $34,825,000. Baillie Gifford & Co. grew its position in Recursion Pharmaceuticals by 10.5% in the second quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after acquiring an additional 2,522,132 shares in the last quarter. Finally, Kinnevik AB publ increased its stake in Recursion Pharmaceuticals by 14.4% during the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock worth $89,293,000 after acquiring an additional 1,500,000 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Recursion Pharmaceuticals Trading Up 1.7 %

RXRX opened at $6.76 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. The company’s 50 day simple moving average is $7.20 and its two-hundred day simple moving average is $8.43. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -4.22 and a beta of 0.82. Recursion Pharmaceuticals, Inc. has a 1-year low of $4.97 and a 1-year high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The business had revenue of $14.42 million for the quarter, compared to analysts’ expectations of $11.96 million. During the same quarter in the prior year, the company posted ($0.38) earnings per share. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. Analysts expect that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity

In related news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total transaction of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares in the company, valued at approximately $3,860,644.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher Gibson sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $7.48, for a total transaction 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 approximately $5,675,360.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Tina Marriott sold 6,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $7.21, for a total transaction of $43,260.00. Following the completion of the transaction, the chief operating officer now owns 535,457 shares in the company, valued at $3,860,644.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,682 shares of company stock worth $1,663,867. 15.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RXRX has been the topic of several analyst reports. Leerink Partners cut their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC cut their target price on Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group reduced their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday, September 3rd. Finally, KeyCorp dropped their price objective on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $9.40.

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.