Pier 88 Investment Partners LLC Acquires 109,210 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Pier 88 Investment Partners LLC increased its position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 442.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,910 shares of the company's stock after buying an additional 109,210 shares during the period. Pier 88 Investment Partners LLC's holdings in Recursion Pharmaceuticals were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Recursion Pharmaceuticals during the first quarter worth $310,000. Swiss National Bank boosted its position in Recursion Pharmaceuticals by 9.6% during the first quarter. Swiss National Bank now owns 308,500 shares of the company's stock worth $3,076,000 after purchasing an additional 27,100 shares during the period. Russell Investments Group Ltd. boosted its position in Recursion Pharmaceuticals by 45.2% during the first quarter. Russell Investments Group Ltd. now owns 158,305 shares of the company's stock worth $1,578,000 after purchasing an additional 49,292 shares during the period. ProShare Advisors LLC boosted its position in Recursion Pharmaceuticals by 14.1% during the first quarter. ProShare Advisors LLC now owns 40,949 shares of the company's stock worth $408,000 after purchasing an additional 5,051 shares during the period. Finally, Kingsview Wealth Management LLC bought a new position in Recursion Pharmaceuticals during the first quarter worth $240,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 20,000 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the sale, the chief executive officer now directly owns 762,656 shares of the company's stock, valued at $4,606,442.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the sale, the chief executive officer now directly owns 762,656 shares of the company's stock, valued at approximately $4,606,442.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Secora sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $6.17, for a total transaction of $92,550.00. Following the completion of the transaction, the chief financial officer now owns 1,377,756 shares in the company, valued at approximately $8,500,754.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,682 shares of company stock valued at $1,012,618 over the last three months. 15.75% of the stock is currently owned by insiders.

Recursion Pharmaceuticals Stock Down 1.4 %

RXRX stock traded down $0.10 during midday trading on Thursday, reaching $7.22. 2,648,542 shares of the company's stock traded hands, compared to its average volume of 5,713,170. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -4.78 and a beta of 0.81. The firm's fifty day moving average price is $6.64 and its 200-day moving average price is $7.62. 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, Inc. has a 52 week low of $5.89 and a 52 week high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $26.08 million during the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business's revenue was up 147.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.43) EPS. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RXRX shares. Jefferies Financial Group reduced their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a research report on Tuesday, September 3rd. Leerink Partners reduced their target price 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $9.25.

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.