Sumitomo Mitsui Trust Group Inc. Trims Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 2.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,766,728 shares of the company's stock after selling 220,302 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.47% of Recursion Pharmaceuticals worth $64,363,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ARK Investment Management LLC boosted 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 purchasing an additional 4,626,268 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Recursion Pharmaceuticals by 10.5% in 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 during the last quarter. Vanguard Group Inc. lifted its stake in Recursion Pharmaceuticals by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company's stock worth $159,667,000 after purchasing an additional 349,554 shares during the last quarter. Kinnevik AB publ boosted its holdings in Recursion Pharmaceuticals by 14.4% during the 2nd quarter. Kinnevik AB publ now owns 11,905,668 shares of the company's stock valued at $89,293,000 after acquiring an additional 1,500,000 shares during the period. Finally, Lingotto Investment Management LLP boosted its stake in shares of Recursion Pharmaceuticals by 69.0% during the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company's stock valued at $27,563,000 after purchasing an additional 1,500,000 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RXRX has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Recursion Pharmaceuticals from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Tuesday, September 3rd. Leerink Partners dropped their target price on Recursion Pharmaceuticals from $9.00 to $8.00 and set a "market perform" rating on the stock 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Recursion Pharmaceuticals has an average rating of "Hold" and an average target price of $9.25.

Recursion Pharmaceuticals Stock Performance

Recursion Pharmaceuticals stock traded down $0.74 during mid-day trading on Friday, reaching $6.18. 10,534,813 shares of the stock traded hands, compared to its average volume of 5,752,592. Recursion Pharmaceuticals, Inc. has a 12-month low of $5.89 and a 12-month high of $15.74. The stock has a market capitalization of $1.74 billion, a PE ratio of -4.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The business's 50-day moving average is $6.65 and its 200-day moving average is $7.61.

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

Insiders Place Their Bets

In other news, CFO Michael Secora sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now directly owns 1,499,631 shares of the company's stock, valued at $11,487,173.46. This represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Gibson sold 20,000 shares of the 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 transaction, the chief executive officer now owns 762,656 shares of the company's stock, valued at $4,606,442.24. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,129 shares of company stock worth $1,214,974 over the last three months. 15.75% of the stock is currently owned by company insiders.

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.