24,700 Shares in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC purchased a new stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,700 shares of the company’s stock, valued at approximately $185,000.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Recursion Pharmaceuticals by 1,423.8% during the 4th quarter. International Assets Investment Management LLC now owns 16,762 shares of the company’s stock valued at $1,700,000 after purchasing an additional 15,662 shares during the period. New York State Common Retirement Fund raised its position in shares of Recursion Pharmaceuticals by 21.1% during the fourth quarter. New York State Common Retirement Fund now owns 58,414 shares of the company’s stock valued at $576,000 after buying an additional 10,177 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 34.1% in the fourth quarter. Victory Capital Management Inc. now owns 20,441 shares of the company’s stock worth $202,000 after buying an additional 5,195 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Recursion Pharmaceuticals by 90.9% during the fourth quarter. National Bank of Canada FI now owns 3,150 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Recursion Pharmaceuticals by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,190,882 shares of the company’s stock valued at $11,742,000 after acquiring an additional 32,916 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, Director Blake Borgeson sold 11,447 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total value of $96,727.15. Following the sale, the director now owns 7,188,563 shares of the company’s stock, valued at $60,743,357.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Recursion Pharmaceuticals news, COO Tina Marriott sold 6,000 shares of Recursion Pharmaceuticals stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $7.21, for a total transaction of $43,260.00. Following the completion of the sale, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at approximately $3,860,644.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $8.45, for a total transaction of $96,727.15. Following the transaction, the director now directly owns 7,188,563 shares in the company, valued at approximately $60,743,357.35. The disclosure for this sale can be found here. Insiders have sold 243,129 shares of company stock worth $1,807,845 over the last quarter. Insiders own 15.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on RXRX shares. Needham & Company LLC decreased their price target on shares of Recursion Pharmaceuticals from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group decreased their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. KeyCorp cut their price target on Recursion Pharmaceuticals from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Leerink Partners decreased their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.40.

Recursion Pharmaceuticals Trading Down 4.1 %

RXRX opened at $5.92 on Friday. The stock has a 50-day moving average of $7.33 and a 200 day moving average of $8.82. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals, Inc. has a 12 month low of $4.97 and a 12 month high of $15.74. The firm has a market cap of $1.66 billion, a P/E ratio of -3.70 and a beta of 0.82.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Recursion Pharmaceuticals had a negative return on equity of 79.47% and a negative net margin of 755.37%. The company had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $11.96 million. During the same quarter last year, the firm posted ($0.38) EPS. Recursion Pharmaceuticals’s revenue for the quarter was up 30.9% compared to the same quarter last year. As a group, research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.58 EPS for the current 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.