EverSource Wealth Advisors LLC Raises Stock Holdings in Recursion Pharmaceuticals, Inc. $RXRX

Key Points

• EverSource Wealth Advisors LLC significantly increased its stake in Recursion Pharmaceuticals by 94,360% during the first quarter, acquiring a total of 108,629 shares valued at $575,000.
• Several other institutional investors, including Man Group plc and Rockefeller Capital Management, also raised their stakes, indicating strong institutional interest, with approximately 89.06% of shares held by institutional investors.
• Recursion Pharmaceuticals reported a negative EPS of ($0.41) for the last quarter, missing analysts' estimates, despite achieving a 33.3% increase in revenue compared to the same quarter last year.

EverSource Wealth Advisors LLC lifted its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 94,360.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,629 shares of the company's stock after acquiring an additional 108,514 shares during the period. EverSource Wealth Advisors LLC's holdings in Recursion Pharmaceuticals were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ensign Peak Advisors Inc lifted its position in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company's stock worth $2,774,000 after buying an additional 1,300 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Recursion Pharmaceuticals by 7.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company's stock worth $176,000 after buying an additional 1,875 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Recursion Pharmaceuticals by 9.8% in the first quarter. Clear Creek Financial Management LLC now owns 21,315 shares of the company's stock worth $113,000 after buying an additional 1,907 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Recursion Pharmaceuticals by 39.0% in the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after buying an additional 2,026 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Recursion Pharmaceuticals by 8.5% in the first quarter. QRG Capital Management Inc. now owns 28,515 shares of the company's stock worth $151,000 after buying an additional 2,244 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Trading Up 3.3%

RXRX stock traded up $0.16 during midday trading on Friday, reaching $4.94. 19,864,289 shares of the company traded hands, compared to its average volume of 19,922,800. Recursion Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $12.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.58 and a current ratio of 3.58. The business has a 50 day moving average of $5.46 and a 200-day moving average of $5.75. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -2.78 and a beta of 0.93.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). Recursion Pharmaceuticals had a negative net margin of 1,004.91% and a negative return on equity of 76.09%. The company had revenue of $19.10 million for the quarter, compared to analysts' expectations of $15.38 million. During the same quarter last year, the company earned ($0.40) earnings per share. The company's revenue for the quarter was up 33.3% on a year-over-year basis. As a group, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Recursion Pharmaceuticals

In other news, insider Najat Khan sold 36,599 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $5.52, for a total value of $202,026.48. Following the sale, the insider directly owned 668,197 shares in the company, valued at approximately $3,688,447.44. This represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on RXRX. Morgan Stanley began coverage on Recursion Pharmaceuticals in a research report on Thursday, July 3rd. They issued an "equal weight" rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.00.

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.