Pier 88 Investment Partners LLC Sells 66,940 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Pier 88 Investment Partners LLC decreased its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 41.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 94,790 shares of the company's stock after selling 66,940 shares during the period. Pier 88 Investment Partners LLC's holdings in Recursion Pharmaceuticals were worth $501,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Recursion Pharmaceuticals by 49.4% during the 4th quarter. Brighton Jones LLC now owns 20,261 shares of the company's stock worth $137,000 after purchasing an additional 6,699 shares during the period. Proficio Capital Partners LLC acquired a new position in Recursion Pharmaceuticals in the fourth quarter valued at $163,000. Raymond James Financial Inc. purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter worth about $609,000. PNC Financial Services Group Inc. boosted its holdings in Recursion Pharmaceuticals by 220.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,820 shares of the company's stock valued at $66,000 after purchasing an additional 6,758 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Recursion Pharmaceuticals by 408.5% during the fourth quarter. HighTower Advisors LLC now owns 122,770 shares of the company's stock valued at $830,000 after buying an additional 98,626 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RXRX. Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday, July 8th. Morgan Stanley assumed coverage on Recursion Pharmaceuticals in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.00.

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ RXRX traded up $0.01 during midday trading on Tuesday, reaching $6.41. The company's stock had a trading volume of 22,189,975 shares, compared to its average volume of 17,399,537. 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 market cap of $2.60 billion, a P/E ratio of -3.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.11. The business's 50 day moving average price is $4.92 and its two-hundred day moving average price is $6.00.

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

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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