Norges Bank Purchases New Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Norges Bank acquired a new position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,465,875 shares of the company's stock, valued at approximately $23,429,000. Norges Bank owned about 0.89% of Recursion Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 288,926 shares during the last quarter. Accel Wealth Management purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter worth $310,000. FMR LLC increased its holdings in shares of Recursion Pharmaceuticals by 2.1% in the 3rd quarter. FMR LLC now owns 8,363,530 shares of the company's stock worth $55,116,000 after buying an additional 170,810 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Recursion Pharmaceuticals during the 4th quarter valued at about $580,000. Finally, State Street Corp lifted its holdings in shares of Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after acquiring an additional 4,120,685 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RXRX. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday. KeyCorp cut their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Leerink Partners decreased their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Friday, February 28th. Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Finally, Morgan Stanley cut their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.20.

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Recursion Pharmaceuticals Trading Up 27.7 %

Shares of RXRX stock traded up $1.25 on Friday, reaching $5.76. 83,130,078 shares of the company's stock were exchanged, compared to its average volume of 11,739,915. The company's fifty day simple moving average is $6.83 and its 200 day simple moving average is $6.84. Recursion Pharmaceuticals, Inc. has a 52 week low of $3.79 and a 52 week high of $12.36. 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 stock has a market capitalization of $2.32 billion, a PE ratio of -3.76 and a beta of 1.00.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.17). The business had revenue of $4.60 million during the quarter, compared to analysts' expectations of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business's revenue for the quarter was down 57.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.42) EPS. As a group, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

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.