Sumitomo Mitsui Trust Group Inc. Reduces Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 2.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,766,728 shares of the company’s stock after selling 220,302 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Recursion Pharmaceuticals were worth $64,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its position in Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock valued at $289,000 after buying an additional 1,795 shares during the period. Privium Fund Management B.V. grew its stake in shares of Recursion Pharmaceuticals by 50.0% in the third quarter. Privium Fund Management B.V. now owns 78,000 shares of the company’s stock worth $514,000 after purchasing an additional 26,000 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after purchasing an additional 4,626,268 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Recursion Pharmaceuticals during the 3rd quarter valued at about $120,000. Finally, Clear Creek Financial Management LLC bought a new position in Recursion Pharmaceuticals during the 3rd quarter valued at approximately $81,000. 89.06% of the stock is currently owned by institutional investors.

Insider Transactions at Recursion Pharmaceuticals

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total value of $114,900.00. Following the completion of the transaction, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake Borgeson sold 11,447 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $7.12, for a total transaction of $81,502.64. Following the sale, the director now directly owns 7,132,769 shares in the company, valued at $50,785,315.28. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,129 shares of company stock valued at $1,214,974 in the last ninety days. 15.75% of the stock is currently owned by corporate insiders.

Recursion Pharmaceuticals Stock Performance

Shares of Recursion Pharmaceuticals stock opened at $6.91 on Friday. Recursion Pharmaceuticals, Inc. has a 12 month low of $5.89 and a 12 month high of $15.74. The firm has a market capitalization of $1.94 billion, a P/E ratio of -4.52 and a beta of 0.81. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $7.62.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $26.08 million for the quarter, compared to analysts’ expectations of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue was up 147.6% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. On average, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RXRX shares. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, November 7th. Jefferies Financial Group decreased their price objective on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, September 3rd. Finally, Leerink Partners cut their target price on shares of Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.25.

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.