Pier 88 Investment Partners LLC Acquires 109,210 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Pier 88 Investment Partners LLC raised its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 442.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,910 shares of the company’s stock after purchasing an additional 109,210 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Recursion Pharmaceuticals were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Recursion Pharmaceuticals by 25.1% during the third quarter. Victory Capital Management Inc. now owns 27,394 shares of the company’s stock worth $181,000 after buying an additional 5,503 shares during the last quarter. Axxcess Wealth Management LLC grew its position in shares of 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 acquiring an additional 1,795 shares during the period. Privium Fund Management B.V. raised its holdings in shares of Recursion Pharmaceuticals by 50.0% in the 3rd 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 period. ARK Investment Management LLC raised its holdings in shares of Recursion Pharmaceuticals by 16.4% in the 3rd 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 period. Finally, QRG Capital Management Inc. purchased a new position in Recursion Pharmaceuticals in the third quarter valued at approximately $120,000. 89.06% of the stock is currently owned by institutional investors.

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ RXRX opened at $7.32 on Thursday. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $5.89 and a fifty-two week high of $15.74. The stock has a fifty day moving average of $6.61 and a 200-day moving average of $7.62.

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

Insider Activity at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the sale, the chief executive officer now directly owns 762,656 shares in the company, valued at $4,606,442.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Michael Secora sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $6.17, for a total value of $92,550.00. Following the completion of the transaction, the chief financial officer now directly owns 1,377,756 shares in the company, valued at approximately $8,500,754.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Gibson sold 20,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total transaction of $120,800.00. Following the completion of the sale, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at $4,606,442.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,682 shares of company stock valued at $1,012,618. Corporate insiders own 15.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RXRX. Jefferies Financial Group lowered their target price on Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday, September 3rd. Leerink Partners lowered their price objective on 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.