5,739,064 Shares in Recursion Pharmaceuticals, Inc. $RXRX Bought by Norges Bank

Key Points

• Norges Bank opened a new position in Recursion Pharmaceuticals, buying 5,739,064 shares worth about $23.5 million in the fourth quarter, giving it roughly 1.10% ownership of the company.
• Institutional ownership remains high, with 89.06% of RXRX shares held by institutions and hedge funds. Several other investors also added to or initiated stakes during the quarter.
• Analyst sentiment is mixed but cautious: the stock carries a Hold consensus rating with an average target price of $8.10, while Recursion’s shares recently traded at $3.22 after the company reported a smaller-than-expected loss but weaker-than-expected revenue.

Norges Bank acquired a new position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,739,064 shares of the company's stock, valued at approximately $23,473,000. Norges Bank owned 1.10% of Recursion Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $389,000. Geode Capital Management LLC raised its holdings in shares of Recursion Pharmaceuticals by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 10,934,252 shares of the company's stock worth $44,731,000 after acquiring an additional 1,310,695 shares during the period. Powell Investment Advisors LLC raised its holdings in shares of Recursion Pharmaceuticals by 155.8% during the fourth quarter. Powell Investment Advisors LLC now owns 29,696 shares of the company's stock worth $121,000 after acquiring an additional 18,089 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $64,000. Finally, Leonteq Securities AG acquired a new stake in shares of Recursion Pharmaceuticals during the fourth quarter worth $510,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RXRX has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Recursion Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Bank of America decreased their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Recursion Pharmaceuticals from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Morgan Stanley raised their target price on shares of Recursion Pharmaceuticals from $5.00 to $5.50 and gave the company an "equal weight" rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.10.

Recursion Pharmaceuticals Stock Performance

Shares of RXRX opened at $3.22 on Wednesday. The firm has a 50-day moving average of $3.31 and a 200-day moving average of $3.80. Recursion Pharmaceuticals, Inc. has a one year low of $2.77 and a one year high of $7.18. The company has a market cap of $1.71 billion, a PE ratio of -2.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.47 and a quick ratio of 5.47.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.08. Recursion Pharmaceuticals had a negative net margin of 842.95% and a negative return on equity of 54.33%. The company had revenue of $6.47 million during the quarter, compared to the consensus estimate of $15.78 million. During the same quarter last year, the firm posted ($0.50) EPS. The company's quarterly revenue was down 56.8% on a year-over-year basis. As a group, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -0.99 earnings per share for the current year.

Insider Activity

In other news, CFO Ben R. Taylor sold 7,956 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.39, for a total value of $26,970.84. Following the completion of the transaction, the chief financial officer owned 1,180,318 shares of the company's stock, valued at $4,001,278.02. This trade represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Blake Borgeson sold 30,000 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $3.68, for a total transaction of $110,400.00. Following the sale, the director directly owned 6,169,863 shares of the company's stock, valued at $22,705,095.84. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 125,930 shares of company stock valued at $435,942 in the last quarter. Company insiders own 8.43% of the company's stock.

About Recursion Pharmaceuticals

Recursion Pharmaceuticals, Inc NASDAQ: RXRX is a biopharmaceutical company that combines advanced automation, artificial intelligence and high-throughput biology to discover and develop novel therapeutics. The company's proprietary platform integrates deep-learning algorithms with large-scale cellular imaging and chemical biology, enabling the rapid identification of potential drug candidates across a range of indications. By automating complex laboratory workflows and leveraging computational models, Recursion aims to accelerate the drug discovery process and expand the scope of targets that can be addressed.

At the core of Recursion's offering is its digital biology platform, which captures billions of cell images under varying chemical and genetic perturbations.

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