Vanguard Group Inc. Lowers Position in Recursion Pharmaceuticals, Inc. $RXRX

Key Points

• Vanguard Group Inc. reduced its position in Recursion Pharmaceuticals by 5.1%, now owning approximately 8.03% of the company, valued at $170.8 million.
• Research analysts have given the stock an average rating of "Hold" with a price target of $7.00, although Needham & Company has a higher target of $8.00.
• Recursion Pharmaceuticals reported a loss per share of ($0.41) in its latest earnings, missing estimates, but saw a revenue increase of 33.3% year-over-year to $19.1 million.

Vanguard Group Inc. cut its position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,287,977 shares of the company's stock after selling 1,722,017 shares during the quarter. Vanguard Group Inc. owned approximately 8.03% of Recursion Pharmaceuticals worth $170,803,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Man Group plc bought a new position in Recursion Pharmaceuticals in the fourth quarter worth about $479,000. Invesco Ltd. raised its holdings in Recursion Pharmaceuticals by 54.6% in the fourth quarter. Invesco Ltd. now owns 178,619 shares of the company's stock worth $1,207,000 after purchasing an additional 63,068 shares in the last quarter. California State Teachers Retirement System raised its holdings in Recursion Pharmaceuticals by 30.7% in the fourth quarter. California State Teachers Retirement System now owns 231,535 shares of the company's stock worth $1,565,000 after purchasing an additional 54,449 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Recursion Pharmaceuticals by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 863,224 shares of the company's stock worth $4,566,000 after purchasing an additional 12,588 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Recursion Pharmaceuticals in the first quarter worth about $67,000. 89.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of Recursion Pharmaceuticals in a research note on Tuesday, July 8th. Morgan Stanley assumed coverage on Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They set an "equal weight" rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.00.

Insider Buying and Selling

In related news, insider Najat Khan sold 36,599 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $5.52, for a total value of $202,026.48. Following the sale, the insider owned 668,197 shares in the company, valued at $3,688,447.44. This represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.43% of the stock is currently owned by corporate insiders.

Recursion Pharmaceuticals Stock Performance

NASDAQ RXRX remained flat at $4.83 during trading hours on Tuesday. The company had a trading volume of 11,288,756 shares, compared to its average volume of 19,281,292. The company's 50-day moving average is $5.46 and its two-hundred day moving average is $5.71. The stock has a market cap of $2.10 billion, a PE ratio of -2.71 and a beta of 0.93. Recursion Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $12.36. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.02.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The firm had revenue of $19.10 million during the quarter, compared to analysts' expectations of $15.38 million. Recursion Pharmaceuticals had a negative net margin of 1,004.91% and a negative return on equity of 76.09%. Recursion Pharmaceuticals's quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, equities research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

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.