Nikko Asset Management Americas Inc. Sells 239,589 Shares of Recursion Pharmaceuticals, Inc. $RXRX

Key Points

• Nikko Asset Management Americas reduced its stake in Recursion Pharmaceuticals by 2.8%, selling 239,589 shares and leaving it with 8,167,745 shares (2.01% of the company) valued at about $41.25 million; institutional investors now own about 89.06% of the stock.
• Director Blake Borgeson sold 220,000 shares at an average price of $4.37 (a 3.1% reduction), leaving him with 6,869,863 shares, while company insiders collectively own 8.43% of the stock.
• Recursion reported Q results with EPS of -$0.36 (beats) but revenue of $5.18M (down 80% YoY vs. $19.36M expected); the stock trades around $4.33 with a market cap of $2.25B and analysts hold an average "Hold" rating with a $7.25 consensus target.

Nikko Asset Management Americas Inc. reduced its position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,167,745 shares of the company's stock after selling 239,589 shares during the period. Nikko Asset Management Americas Inc. owned 2.01% of Recursion Pharmaceuticals worth $41,247,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RXRX. Brighton Jones LLC boosted its stake in Recursion Pharmaceuticals by 49.4% in the fourth quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock valued at $137,000 after acquiring an additional 6,699 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Recursion Pharmaceuticals by 22.6% during the 1st quarter. Cetera Investment Advisers now owns 75,788 shares of the company's stock valued at $401,000 after purchasing an additional 13,955 shares during the last quarter. LPL Financial LLC boosted its position in shares of Recursion Pharmaceuticals by 15.6% in the 1st quarter. LPL Financial LLC now owns 425,090 shares of the company's stock worth $2,249,000 after purchasing an additional 57,305 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Recursion Pharmaceuticals by 34.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,229 shares of the company's stock worth $70,000 after buying an additional 3,409 shares during the last quarter. Finally, Invesco Ltd. increased its position in Recursion Pharmaceuticals by 13.4% during the 1st quarter. Invesco Ltd. now owns 202,531 shares of the company's stock valued at $1,071,000 after buying an additional 23,912 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Stock Down 5.5%

RXRX stock opened at $4.33 on Friday. The company has a market capitalization of $2.25 billion, a P/E ratio of -2.41 and a beta of 0.94. Recursion Pharmaceuticals, Inc. has a 12 month low of $3.79 and a 12 month high of $12.36. The firm's fifty day simple moving average is $5.08 and its 200-day simple moving average is $5.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.60 and a quick ratio of 4.60.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.02. Recursion Pharmaceuticals had a negative net margin of 1,637.81% and a negative return on equity of 72.74%. The firm had revenue of $5.18 million during the quarter, compared to analysts' expectations of $19.36 million. During the same quarter last year, the company posted ($0.34) earnings per share. The firm's revenue was down 80.1% compared to the same quarter last year. As a group, equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on RXRX. Weiss Ratings reissued a "sell (d-)" rating on shares of Recursion Pharmaceuticals in a report on Wednesday, October 8th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.25.

Insider Activity

In other news, Director Blake Borgeson sold 220,000 shares of the business's stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $961,400.00. Following the completion of the transaction, the director owned 6,869,863 shares of the company's stock, valued at $30,021,301.31. The trade was a 3.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.43% of the stock is currently owned by company insiders.

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.

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