HighTower Advisors LLC Cuts Stock Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

HighTower Advisors LLC cut its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 35.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 24,144 shares of the company’s stock after selling 13,040 shares during the period. HighTower Advisors LLC’s holdings in Recursion Pharmaceuticals were worth $159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ARK Investment Management LLC raised its position in shares of Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. Lingotto Investment Management LLP raised its holdings in shares of Recursion Pharmaceuticals by 69.0% during the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after acquiring an additional 1,500,000 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Recursion Pharmaceuticals in the second quarter valued at approximately $8,250,000. Perceptive Advisors LLC acquired a new stake in shares of Recursion Pharmaceuticals in the second quarter worth approximately $5,769,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Recursion Pharmaceuticals by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock worth $12,789,000 after acquiring an additional 288,926 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Recursion Pharmaceuticals Price Performance

Shares of RXRX opened at $7.24 on Thursday. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $6.78 and its 200-day simple moving average is $7.16. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -4.73 and a beta of 0.85. Recursion Pharmaceuticals, Inc. has a twelve month low of $5.60 and a twelve month high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $26.08 million for the quarter, compared to analyst estimates of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The firm’s revenue for the quarter was up 147.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) EPS. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $6.31, for a total value of $37,860.00. Following the sale, the chief operating officer now directly owns 521,138 shares in the company, valued at $3,288,380.78. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total transaction of $123,200.00. Following the transaction, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,788 shares of company stock worth $682,691. Insiders own 15.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Jefferies Financial Group cut their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Finally, Leerink Partners reduced their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.25.

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.