Platinum Investment Management Ltd. lifted its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 293.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 733,011 shares of the company's stock after purchasing an additional 546,929 shares during the period. Platinum Investment Management Ltd. owned approximately 0.19% of Recursion Pharmaceuticals worth $4,955,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of RXRX. State Street Corp lifted its stake in Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after buying an additional 4,120,685 shares in the last quarter. Geode Capital Management LLC boosted its stake in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock worth $35,803,000 after purchasing an additional 656,003 shares during the period. Institute for Wealth Management LLC. purchased a new position in Recursion Pharmaceuticals during the 4th quarter worth approximately $3,928,000. Charles Schwab Investment Management Inc. raised its stake in Recursion Pharmaceuticals by 17.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,274,003 shares of the company's stock valued at $15,372,000 after purchasing an additional 333,323 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Recursion Pharmaceuticals by 53.9% in the third quarter. Barclays PLC now owns 697,432 shares of the company's stock valued at $4,596,000 after purchasing an additional 244,278 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.
Wall Street Analyst Weigh In
RXRX has been the topic of a number of research analyst reports. Cowen reissued a "hold" rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. KeyCorp decreased their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.25.
Read Our Latest Analysis on Recursion Pharmaceuticals
Recursion Pharmaceuticals Stock Up 3.1 %
RXRX stock traded up $0.20 during trading hours on Friday, hitting $6.68. The company's stock had a trading volume of 17,924,603 shares, compared to its average volume of 10,527,241. The stock has a 50 day moving average price of $7.47 and a two-hundred day moving average price of $7.00. Recursion Pharmaceuticals, Inc. has a 12 month low of $5.60 and a 12 month high of $12.36. The company has a market capitalization of $2.69 billion, a PE ratio of -4.37 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 - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.17). The business had revenue of $4.60 million for the quarter, compared to analyst estimates of $19.04 million. Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The company's quarterly revenue was down 57.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.42) earnings per share. On average, equities research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.
Recursion Pharmaceuticals Profile
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Free Report)
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.
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