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

Pier 88 Investment Partners LLC raised its position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 442.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,910 shares of the company's stock after purchasing an additional 109,210 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Recursion Pharmaceuticals were worth $882,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Recursion Pharmaceuticals in the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC grew its holdings in shares of 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 acquiring an additional 4,091 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Recursion Pharmaceuticals by 1,588.4% in the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company's stock valued at $48,000 after acquiring an additional 6,036 shares in the last quarter. Amalgamated Bank grew its holdings in shares of 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 acquiring an additional 2,459 shares in the last quarter. Finally, San Luis Wealth Advisors LLC bought a new position in shares of Recursion Pharmaceuticals in the 3rd quarter valued at about $69,000. Institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Stock Performance

Shares of NASDAQ:RXRX traded down $0.41 during trading on Thursday, reaching $6.91. 6,567,201 shares of the stock were exchanged, compared to its average volume of 5,730,846. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals, Inc. has a 12 month low of $5.89 and a 12 month high of $15.74. The stock has a 50-day moving average price of $6.64 and a 200-day moving average price of $7.62. The firm has a market cap of $1.94 billion, a PE ratio of -4.78 and a beta of 0.81.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly 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 net margin of 579.52% and a negative return on equity of 76.56%. The business had revenue of $26.08 million during the quarter, compared to analyst estimates of $12.62 million. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The firm's quarterly revenue was up 147.6% on a year-over-year basis. Research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christopher Gibson sold 20,000 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the completion of the transaction, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,606,442.24. This represents a 2.56 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $7.56, for a total transaction of $45,360.00. Following the transaction, the chief operating officer now owns 521,138 shares of the company's stock, valued at $3,939,803.28. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,129 shares of company stock worth $1,214,974. Corporate insiders own 15.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RXRX. Jefferies Financial Group reduced their price target on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, September 3rd. Leerink Partners reduced their price target on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating for the company in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.