Pier 88 Investment Partners LLC lowered its stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 41.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,790 shares of the company's stock after selling 66,940 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Recursion Pharmaceuticals were worth $501,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of RXRX. Softbank Group CORP. acquired a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $99,152,000. Novo Holdings A S acquired a new stake in Recursion Pharmaceuticals during the 4th quarter valued at approximately $68,375,000. Vanguard Group Inc. grew its stake in Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after purchasing an additional 9,737,196 shares in the last quarter. Norges Bank acquired a new stake in Recursion Pharmaceuticals during the 4th quarter valued at approximately $23,429,000. Finally, Laurion Capital Management LP acquired a new stake in Recursion Pharmaceuticals during the 4th quarter valued at approximately $16,611,000. Institutional investors and hedge funds own 89.06% of the company's stock.
Wall Street Analyst Weigh In
RXRX has been the subject of a number of recent analyst reports. Needham & Company LLC restated 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 began coverage on Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.00.
Get Our Latest Stock Analysis on RXRX
Recursion Pharmaceuticals Stock Performance
Shares of RXRX traded up $0.03 during mid-day trading on Friday, hitting $6.29. The stock had a trading volume of 13,144,530 shares, compared to its average volume of 25,446,639. The company has a market cap of $2.56 billion, a PE ratio of -3.56 and a beta of 0.91. The company's fifty day simple moving average is $5.08 and its two-hundred day simple moving average is $5.98. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $12.36.
Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued 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 firm 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%. Recursion Pharmaceuticals's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) EPS. On average, equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.
Recursion Pharmaceuticals Company Profile
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Free Report)
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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