Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Shares Purchased by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in Recursion Pharmaceuticals by 7.6%, now holding 34,815,502 shares, which makes the company the 17th largest position in ARK's portfolio.
• Recursion Pharmaceuticals reported a negative earnings per share (EPS) of ($0.50) for the recent quarter, missing estimates, with revenue of $14.75 million compared to expectations of $18.12 million.
• Currently, institutional investors and hedge funds own 89.06% of Recursion Pharmaceuticals, indicating strong backing from major financial entities.

ARK Investment Management LLC raised its stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,815,502 shares of the company's stock after acquiring an additional 2,469,104 shares during the period. Recursion Pharmaceuticals accounts for approximately 1.8% of ARK Investment Management LLC's portfolio, making the stock its 17th largest position. ARK Investment Management LLC owned approximately 8.66% of Recursion Pharmaceuticals worth $184,174,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Softbank Group CORP. purchased a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at about $99,152,000. Novo Holdings A S acquired a new position in Recursion Pharmaceuticals during the fourth quarter worth approximately $68,375,000. Vanguard Group Inc. lifted its stake in Recursion Pharmaceuticals by 40.1% in the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after buying an additional 9,737,196 shares during the last quarter. Norges Bank acquired a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $23,429,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at approximately $16,611,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Recursion Pharmaceuticals Stock Up 3.7%

Recursion Pharmaceuticals stock opened at $6.49 on Friday. The stock has a 50 day moving average of $5.12 and a two-hundred day moving average of $5.97. Recursion Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month high of $12.36. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -3.67 and a beta of 0.91. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly 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). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The company had revenue of $14.75 million for the quarter, compared to analysts' expectations of $18.12 million. During the same quarter last year, the company earned ($0.39) EPS. Recursion Pharmaceuticals's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Recursion Pharmaceuticals in a report on Tuesday, July 8th. Morgan Stanley initiated coverage on shares of Recursion Pharmaceuticals in a research report on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Recursion Pharmaceuticals has a consensus rating of "Hold" and an average target price of $7.00.

About Recursion Pharmaceuticals

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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