Los Angeles Capital Management LLC Makes New Investment in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Los Angeles Capital Management LLC purchased a new position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in the 2nd quarter, HoldingsChannel reports. The firm purchased 32,755 shares of the company’s stock, valued at approximately $246,000.

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

Insider Buying and Selling

In related news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.51, for a total value of $108,860.97. Following the sale, the director now directly owns 7,177,116 shares in the company, valued at approximately $68,254,373.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher Gibson sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $7.48, for a total value of $374,000.00. Following the sale, the chief executive officer now directly owns 758,738 shares in the company, valued at approximately $5,675,360.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $9.51, for a total value of $108,860.97. Following the completion of the sale, the director now owns 7,177,116 shares in the company, valued at $68,254,373.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 231,682 shares of company stock valued at $1,663,867. 15.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. KeyCorp lowered their price objective on shares of Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Needham & Company LLC reduced their price target on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Leerink Partners reduced their price target on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Tuesday, September 3rd. Four 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 company has a consensus rating of “Hold” and a consensus price target of $9.40.

Recursion Pharmaceuticals Price Performance

RXRX opened at $6.57 on Monday. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $7.23 and its two-hundred day moving average price is $8.52. Recursion Pharmaceuticals, Inc. has a 1 year low of $4.97 and a 1 year high of $15.74.

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

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.