State Street Corp Acquires 4,120,685 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

State Street Corp boosted its position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 47.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,870,272 shares of the company’s stock after buying an additional 4,120,685 shares during the period. State Street Corp owned approximately 4.58% of Recursion Pharmaceuticals worth $84,815,000 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. Allspring Global Investments Holdings LLC bought a new stake in Recursion Pharmaceuticals in the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after buying an additional 4,091 shares in the last quarter. Amalgamated Bank increased its position in Recursion Pharmaceuticals by 52.4% in the 2nd quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock valued at $54,000 after buying an additional 2,459 shares in the last quarter. KBC Group NV increased its position in Recursion Pharmaceuticals by 79.9% in the 3rd quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after buying an additional 3,377 shares in the last quarter. Finally, San Luis Wealth Advisors LLC bought a new stake in Recursion Pharmaceuticals in the 3rd quarter valued at about $69,000. 89.06% of the stock is owned by institutional investors.

Insider Transactions at Recursion Pharmaceuticals

In related news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $6.32, for a total value of $94,800.00. Following the transaction, the chief financial officer now owns 1,426,506 shares in the company, valued at approximately $9,015,517.92. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.16, for a total value of $123,200.00. Following the completion of the transaction, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,697,960.96. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,788 shares of company stock worth $724,691 in the last 90 days. Insiders own 15.75% of the company’s stock.

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ RXRX opened at $7.44 on Tuesday. Recursion Pharmaceuticals, Inc. has a twelve month low of $5.60 and a twelve month high of $15.74. The stock’s 50 day moving average price is $6.76 and its 200-day moving average price is $7.24. The company has a market capitalization of $2.13 billion, a PE ratio of -4.86 and a beta of 0.85. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results 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). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $26.08 million during the quarter, compared to analysts’ expectations of $12.62 million. During the same quarter in the previous year, the firm earned ($0.43) EPS. Recursion Pharmaceuticals’s quarterly revenue was up 147.6% on a year-over-year basis. On average, equities analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Analysts Set New Price Targets

RXRX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Leerink Partners cut their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group cut their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.25.

Recursion Pharmaceuticals 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.