Pier 88 Investment Partners LLC Makes New Investment in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Pier 88 Investment Partners LLC purchased a new stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,700 shares of the company’s stock, valued at approximately $185,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mubadala Investment Co PJSC bought a new stake in Recursion Pharmaceuticals in the fourth quarter valued at approximately $128,041,000. Nikko Asset Management Americas Inc. raised its holdings in Recursion Pharmaceuticals by 161.2% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,203,780 shares of the company’s stock valued at $90,565,000 after buying an additional 5,680,656 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Recursion Pharmaceuticals by 14.5% during the second 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 during the last quarter. Norges Bank purchased a new stake in Recursion Pharmaceuticals in the fourth quarter worth $34,825,000. Finally, Baillie Gifford & Co. lifted its holdings 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 buying an additional 2,522,132 shares during the period. 89.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RXRX shares. Leerink Partners dropped their target price on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note 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. Jefferies Financial Group reduced their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Finally, KeyCorp lowered their price target on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.40.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total transaction of $96,727.15. Following the completion of the sale, the director now directly owns 7,188,563 shares of the company’s stock, valued at $60,743,357.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $8.45, for a total transaction of $96,727.15. Following the completion of the sale, the director now owns 7,188,563 shares of the company’s stock, valued at $60,743,357.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $7.21, for a total value of $43,260.00. Following the completion of the transaction, the chief operating officer now directly owns 535,457 shares in the company, valued at approximately $3,860,644.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,129 shares of company stock valued at $1,807,845. 15.75% of the stock is owned by insiders.

Recursion Pharmaceuticals Stock Performance

RXRX stock opened at $5.92 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.07 and a quick ratio of 6.07. Recursion Pharmaceuticals, Inc. has a 1 year low of $4.97 and a 1 year high of $15.74. The company has a market cap of $1.66 billion, a P/E ratio of -3.70 and a beta of 0.82. The stock’s fifty day moving average price is $7.33 and its 200-day moving average price is $8.82.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). The firm had revenue of $14.42 million during 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%. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) earnings per share. On average, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.58 earnings per share for the current year.

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.