UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 4,149,346 Shares of Recursion Pharmaceuticals, Inc. $RXRX

Key Points

• UBS Asset Management increased its stake in Recursion Pharmaceuticals by 183.7% during the 1st quarter, now holding over 6.4 million shares valued at approximately $33.9 million.
• Recursion Pharmaceuticals reported a revenue increase of 33.3% year-over-year, with earnings per share of ($0.41) for the last quarter, falling short of the consensus estimate.
• Major institutional investors, including ARK Investment and Royal Bank of Canada, have significantly boosted their holdings in Recursion in recent months, with institutional ownership now at 89.06% of the company's stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) by 183.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,408,524 shares of the company's stock after purchasing an additional 4,149,346 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.58% of Recursion Pharmaceuticals worth $33,901,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. AlphaQuest LLC bought a new position in shares of Recursion Pharmaceuticals in the first quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in shares of Recursion Pharmaceuticals by 39.0% during the 1st 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. GF Fund Management CO. LTD. purchased a new stake in shares of Recursion Pharmaceuticals in the 4th quarter valued at $54,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Recursion Pharmaceuticals in the first quarter valued at approximately $54,000. Finally, ADG Wealth Management Group LLC purchased a new position in shares of Recursion Pharmaceuticals in the first quarter worth about $55,000. 89.06% of the stock is owned by institutional investors.

Recursion Pharmaceuticals Stock Down 0.4%

Shares of RXRX stock traded down $0.02 during trading hours on Friday, reaching $4.91. The company had a trading volume of 53,031,842 shares, compared to its average volume of 16,493,546. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -2.76 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. The business has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $5.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.58 and a quick ratio of 3.58.

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

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, insider Najat Khan sold 36,599 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $5.52, for a total value of $202,026.48. Following the transaction, the insider directly owned 668,197 shares of the company's stock, valued at $3,688,447.44. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RXRX. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a research report on Thursday, September 11th. Morgan Stanley initiated coverage on Recursion Pharmaceuticals in a report 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 three have given a Hold rating to the company's stock. According to MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $7.25.

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.