Cerity Partners LLC Makes New Investment in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Key Points

• Cerity Partners LLC acquired 62,691 shares of Recursion Pharmaceuticals, valued at approximately $332,000, during the first quarter.
• Recursion Pharmaceuticals reported a loss of ($0.50) earnings per share in its latest quarter, which was below analysts' expectations of ($0.44).
• Analysts have rated Recursion Pharmaceuticals with an average target price of $7.00, with Needham & Company giving it a "buy" rating at a target of $8.00.

Cerity Partners LLC acquired a new position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 62,691 shares of the company's stock, valued at approximately $332,000.

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Advisors LLC acquired a new stake in Recursion Pharmaceuticals during the first quarter valued at approximately $138,000. Bank of New York Mellon Corp boosted its holdings in Recursion Pharmaceuticals by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 863,224 shares of the company's stock valued at $4,566,000 after purchasing an additional 12,588 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Recursion Pharmaceuticals by 571.7% during the first quarter. D.A. Davidson & CO. now owns 107,432 shares of the company's stock valued at $568,000 after purchasing an additional 91,438 shares in the last quarter. Kinnevik AB publ boosted its holdings in Recursion Pharmaceuticals by 12.8% during the first quarter. Kinnevik AB publ now owns 13,434,171 shares of the company's stock valued at $71,067,000 after purchasing an additional 1,528,503 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its holdings in Recursion Pharmaceuticals by 9.8% during the first quarter. Clear Creek Financial Management LLC now owns 21,315 shares of the company's stock valued at $113,000 after purchasing an additional 1,907 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

Recursion Pharmaceuticals Price Performance

Shares of RXRX traded up $0.11 on Thursday, hitting $5.92. The company's stock had a trading volume of 7,107,720 shares, compared to its average volume of 25,339,197. The company has a market capitalization of $2.40 billion, a PE ratio of -3.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.11 and a quick ratio of 4.11. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $12.36. The company has a 50 day moving average price of $5.21 and a 200 day moving average price of $5.95.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). The business had revenue of $14.75 million during the quarter, compared to analyst estimates of $18.12 million. Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.39) earnings per share. On average, research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RXRX shares. Morgan Stanley started coverage on Recursion Pharmaceuticals in a report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Recursion Pharmaceuticals has a consensus rating of "Hold" and a consensus price target of $7.00.

About Recursion Pharmaceuticals

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.