Hsbc Holdings PLC Grows Position in Recursion Pharmaceuticals, Inc. $RXRX

Key Points

• HSBC Holdings PLC increased its stake in Recursion Pharmaceuticals by 537.3% in the fourth quarter, bringing its total to 818,316 shares worth about $3.37 million.
• Other major institutional investors also boosted their RXRX holdings, and hedge funds and institutions now own 89.06% of the company.
• Recursion Pharmaceuticals reported a smaller-than-expected loss of ($0.22) per share in its latest quarter, but revenue came in below estimates and fell 56.8% year over year.

Hsbc Holdings PLC raised its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 537.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 818,316 shares of the company's stock after purchasing an additional 689,903 shares during the period. Hsbc Holdings PLC owned 0.16% of Recursion Pharmaceuticals worth $3,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RXRX. Vanguard Group Inc. increased its holdings in Recursion Pharmaceuticals by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 47,187,759 shares of the company's stock valued at $192,998,000 after buying an additional 7,407,606 shares during the period. ARK Investment Management LLC lifted its holdings in Recursion Pharmaceuticals by 11.2% during the fourth quarter. ARK Investment Management LLC now owns 37,316,856 shares of the company's stock worth $152,626,000 after buying an additional 3,771,357 shares during the period. State Street Corp boosted its position in Recursion Pharmaceuticals by 38.7% during the 4th quarter. State Street Corp now owns 25,333,888 shares of the company's stock valued at $103,616,000 after acquiring an additional 7,064,963 shares in the last quarter. Geode Capital Management LLC boosted its position in Recursion Pharmaceuticals by 13.6% during the 4th quarter. Geode Capital Management LLC now owns 10,934,252 shares of the company's stock valued at $44,731,000 after acquiring an additional 1,310,695 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at $23,473,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RXRX. Morgan Stanley boosted their target price on shares of Recursion Pharmaceuticals from $5.00 to $5.50 and gave the stock an "equal weight" rating in a report on Thursday, May 14th. JPMorgan Chase & Co. lowered their price target on shares of Recursion Pharmaceuticals from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 21st. Needham & Company LLC reiterated a "buy" rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Recursion Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Recursion Pharmaceuticals currently has an average rating of "Hold" and an average target price of $8.10.

Recursion Pharmaceuticals Price Performance

Shares of RXRX stock opened at $3.56 on Friday. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $2.77 and a fifty-two week high of $7.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.47 and a current ratio of 5.47. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -2.97 and a beta of 1.00. The stock's 50-day simple moving average is $3.34 and its 200-day simple moving average is $3.64.

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 the consensus estimate of ($0.30) by $0.08. The firm had revenue of $6.47 million during the quarter, compared to analyst estimates of $15.78 million. Recursion Pharmaceuticals had a negative net margin of 842.95% and a negative return on equity of 54.33%. Recursion Pharmaceuticals's revenue was down 56.8% on a year-over-year basis. During the same period last year, the firm posted ($0.50) EPS. As a group, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Recursion Pharmaceuticals news, CEO Najat Khan sold 23,588 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $3.58, for a total transaction of $84,445.04. Following the transaction, the chief executive officer owned 2,175,796 shares in the company, valued at approximately $7,789,349.68. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Blake Borgeson sold 40,000 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $3.96, for a total transaction of $158,400.00. Following the completion of the transaction, the director directly owned 6,218,287 shares of the company's stock, valued at approximately $24,624,416.52. This represents a 0.64% 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 have sold a total of 131,937 shares of company stock worth $486,974 in the last 90 days. 6.65% of the stock is currently owned by company insiders.

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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