State Street Corp Raises Holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

State Street Corp lifted its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 47.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,870,272 shares of the company's stock after buying an additional 4,120,685 shares during the period. State Street Corp owned about 4.58% of Recursion Pharmaceuticals worth $84,815,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ARK Investment Management LLC grew its position in Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock worth $215,949,000 after buying an additional 4,626,268 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Recursion Pharmaceuticals by 10.5% during the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company's stock worth $199,425,000 after acquiring an additional 2,522,132 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Recursion Pharmaceuticals by 69.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company's stock worth $27,563,000 after acquiring an additional 1,500,000 shares during the period. Ghisallo Capital Management LLC purchased a new position in Recursion Pharmaceuticals in the 2nd quarter valued at approximately $8,250,000. Finally, Perceptive Advisors LLC acquired a new position in Recursion Pharmaceuticals during the second quarter worth $5,769,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ:RXRX traded down $0.32 on Tuesday, hitting $7.12. The company had a trading volume of 13,504,144 shares, compared to its average volume of 6,578,975. 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 company has a market cap of $2.04 billion, a PE ratio of -4.61 and a beta of 0.85. Recursion Pharmaceuticals, Inc. has a 52-week low of $5.60 and a 52-week high of $15.74. The business has a 50 day moving average of $6.76 and a 200 day moving average of $7.24.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.01). The firm had revenue of $26.08 million during the quarter, compared to analysts' expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals's revenue for the quarter was up 147.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) earnings per share. As a group, equities analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday, September 3rd. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Wednesday, December 11th. Finally, Leerink Partners cut 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. Three 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, Recursion Pharmaceuticals has a consensus rating of "Hold" and a consensus price target of $9.25.

Insider Activity at Recursion Pharmaceuticals

In related news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.16, for a total transaction of $123,200.00. Following the transaction, the chief executive officer now directly owns 762,656 shares in the company, valued at approximately $4,697,960.96. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Blake Borgeson sold 11,447 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.22, for a total value of $71,200.34. Following the completion of the sale, the director now directly owns 7,098,428 shares in the company, valued at approximately $44,152,222.16. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,788 shares of company stock valued at $724,691. Company insiders own 15.75% of the company's stock.

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.