Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Recursion Pharmaceuticals, Inc. $RXRX

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,167,745 shares of the company’s stock after selling 311,539 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.01% of Recursion Pharmaceuticals worth $41,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ARK Investment Management LLC increased its holdings in Recursion Pharmaceuticals by 7.6% during the 1st quarter. ARK Investment Management LLC now owns 34,815,502 shares of the company’s stock worth $184,174,000 after purchasing an additional 2,469,104 shares during the last quarter. Kinnevik AB publ increased its holdings in Recursion Pharmaceuticals by 12.8% during the 1st quarter. Kinnevik AB publ now owns 13,434,171 shares of the company’s stock worth $71,067,000 after purchasing an additional 1,528,503 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Recursion Pharmaceuticals by 183.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,408,524 shares of the company’s stock worth $33,901,000 after purchasing an additional 4,149,346 shares during the last quarter. Nuveen LLC bought a new stake in shares of Recursion Pharmaceuticals in the 1st quarter valued at approximately $10,118,000. Finally, Bank of New York Mellon Corp raised its position in shares of Recursion Pharmaceuticals by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 863,224 shares of the company’s stock valued at $4,566,000 after acquiring an additional 12,588 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Najat Khan sold 36,599 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $5.52, for a total transaction of $202,026.48. Following the completion of the transaction, the insider directly owned 668,197 shares in the company, valued at $3,688,447.44. This represents a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RXRX. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, September 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Morgan Stanley began coverage on Recursion Pharmaceuticals in a research report on Thursday, July 3rd. They set an “equal weight” rating and a $5.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.25.

Recursion Pharmaceuticals Price Performance

Shares of RXRX opened at $6.30 on Tuesday. The company has a market cap of $2.74 billion, a P/E ratio of -3.54 and a beta of 0.91. The stock has a fifty day moving average price of $5.19 and a 200 day moving average price of $5.20. 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, Inc. has a 12 month low of $3.79 and a 12 month high of $12.36.

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

Recursion Pharmaceuticals Company 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.