Sumitomo Mitsui Trust Group Inc. Sells 501,317 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,479,284 shares of the company's stock after selling 501,317 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.11% of Recursion Pharmaceuticals worth $44,855,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ensign Peak Advisors Inc boosted its holdings in shares of Recursion Pharmaceuticals by 0.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company's stock worth $2,774,000 after buying an additional 1,300 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Recursion Pharmaceuticals by 21.1% in the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company's stock worth $52,000 after buying an additional 1,353 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Recursion Pharmaceuticals by 7.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company's stock worth $176,000 after buying an additional 1,875 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 2,026 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Recursion Pharmaceuticals by 28.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 10,135 shares of the company's stock worth $69,000 after buying an additional 2,235 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of Recursion Pharmaceuticals from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley lowered their price target on shares of Recursion Pharmaceuticals from $8.00 to $5.00 and set an "equal weight" rating on the stock in a report on Monday, June 16th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Recursion Pharmaceuticals has an average rating of "Hold" and an average price target of $7.00.

Recursion Pharmaceuticals Price Performance

NASDAQ:RXRX traded up $0.08 during trading hours on Wednesday, hitting $5.21. 24,991,969 shares of the stock traded hands, compared to its average volume of 15,880,424. 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 1 year low of $3.79 and a 1 year high of $12.36. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -2.94 and a beta of 0.91. The stock has a 50 day moving average price of $4.87 and a 200 day moving average price of $6.14.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.50) earnings per share (EPS) 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 the consensus estimate of $18.12 million. Recursion Pharmaceuticals had a negative net margin of 961.32% and a negative return on equity of 74.70%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.39) EPS. Sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current fiscal 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.