Nikko Asset Management Americas Inc. Sells 501,317 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Key Points

• Nikko Asset Management Americas Inc. has reduced its stake in Recursion Pharmaceuticals by 5.6%, owning 2.09% of the company, which is valued at approximately $44.4 million after selling over 500,000 shares.
• Recursion Pharmaceuticals reported a net loss of ($0.50) per share for the last quarter, failing to meet analysts' expectations, with a revenue of $14.75 million, below the anticipated $18.12 million.
• Analysts have a consensus rating of "Hold" on Recursion Pharmaceuticals, with a price target averaging $7.00, while Needham & Company issued a "buy" rating with a price objective of $8.00.

Nikko Asset Management Americas Inc. lessened its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,407,334 shares of the company's stock after selling 501,317 shares during the period. Nikko Asset Management Americas Inc. owned approximately 2.09% of Recursion Pharmaceuticals worth $44,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Recursion Pharmaceuticals by 39.0% in the first quarter. GAMMA Investing LLC now owns 7,224 shares of the company's stock worth $38,000 after acquiring an additional 2,026 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Recursion Pharmaceuticals by 43.7% in the 4th quarter. NewEdge Advisors LLC now owns 7,847 shares of the company's stock worth $53,000 after acquiring an additional 2,387 shares during the period. GF Fund Management CO. LTD. acquired a new position in Recursion Pharmaceuticals during the fourth quarter worth $54,000. San Luis Wealth Advisors LLC acquired a new stake in Recursion Pharmaceuticals in the first quarter valued at $54,000. Finally, ADG Wealth Management Group LLC acquired a new stake in Recursion Pharmaceuticals in the first quarter valued at $55,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Price Performance

NASDAQ RXRX traded down $0.36 on Tuesday, reaching $5.95. 23,655,226 shares of the stock traded hands, compared to its average volume of 25,506,541. The firm's fifty day simple moving average is $5.15 and its 200 day simple moving average is $5.95. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -3.36 and a beta of 0.91. Recursion Pharmaceuticals, Inc. has a 12 month low of $3.79 and a 12 month high of $12.36.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). The business had revenue of $14.75 million during the quarter, compared to analysts' expectations 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 previous year, the company earned ($0.39) EPS. As a group, research analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RXRX. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of Recursion Pharmaceuticals in a report on Tuesday, July 8th. Morgan Stanley assumed coverage on Recursion Pharmaceuticals in a report on Thursday, July 3rd. They issued an "equal weight" rating and a $5.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.