Novo Holdings A S Makes New Investment in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Novo Holdings A S acquired a new stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,114,633 shares of the company's stock, valued at approximately $68,375,000. Recursion Pharmaceuticals comprises about 4.1% of Novo Holdings A S's portfolio, making the stock its 7th largest holding. Novo Holdings A S owned about 2.59% of Recursion Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Recursion Pharmaceuticals by 40.1% during 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 period. Norges Bank purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter valued at approximately $23,429,000. Nan Fung Group Holdings Ltd bought a new stake in shares of Recursion Pharmaceuticals during the fourth quarter valued at approximately $4,493,000. Geode Capital Management LLC grew its stake in Recursion Pharmaceuticals by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 6,087,149 shares of the company's stock worth $41,160,000 after purchasing an additional 655,238 shares during the period. Finally, Institute for Wealth Management LLC. bought a new position in Recursion Pharmaceuticals in the fourth quarter worth $3,928,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RXRX. Cowen reaffirmed a "hold" rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday, April 8th. KeyCorp cut their target price on Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Leerink Partners lowered their price target on Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley cut their price objective on shares of Recursion Pharmaceuticals from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. 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 company has a consensus rating of "Hold" and a consensus target price of $8.20.

Recursion Pharmaceuticals Stock Down 2.3 %

RXRX stock opened at $5.59 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. Recursion Pharmaceuticals, Inc. has a 1-year low of $3.79 and a 1-year high of $12.36. The stock has a market capitalization of $2.25 billion, a P/E ratio of -3.65 and a beta of 1.00. The business has a fifty day moving average price of $5.94 and a 200-day moving average price of $6.76.

Recursion Pharmaceuticals (NASDAQ:RXRX - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company had revenue of $4.60 million for the quarter, compared to analysts' expectations of $19.04 million. During the same period in the previous year, the business earned ($0.42) EPS. The business's revenue was down 57.8% compared to the same quarter last year. Equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Recursion Pharmaceuticals Profile

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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