Sumitomo Mitsui Trust Holdings Inc. Acquires 1,159,023 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,362,803 shares of the company’s stock after purchasing an additional 1,159,023 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 4.42% of Recursion Pharmaceuticals worth $103,317,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of Recursion Pharmaceuticals by 90.9% in the 4th 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 period. Wedmont Private Capital lifted its position in shares of Recursion Pharmaceuticals by 11.8% in the 1st quarter. Wedmont Private Capital now owns 18,943 shares of the company’s stock worth $172,000 after acquiring an additional 2,000 shares during the period. Arizona State Retirement System lifted its position in shares of Recursion Pharmaceuticals by 8.5% in the 4th quarter. Arizona State Retirement System now owns 39,926 shares of the company’s stock worth $394,000 after acquiring an additional 3,125 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Recursion Pharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 16,359 shares of the company’s stock worth $161,000 after acquiring an additional 4,148 shares during the period. Finally, Green Alpha Advisors LLC lifted its position in shares of Recursion Pharmaceuticals by 6.7% in the 1st quarter. Green Alpha Advisors LLC now owns 72,434 shares of the company’s stock worth $722,000 after acquiring an additional 4,563 shares during the period. Institutional investors own 89.06% of the company’s stock.

Insider Transactions at Recursion Pharmaceuticals

In related news, COO Tina Marriott sold 6,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael Secora sold 23,124 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $7.58, for a total transaction of $175,279.92. Following the completion of the sale, the chief financial officer now directly owns 1,231,055 shares of the company’s stock, valued at approximately $9,331,396.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Tina Marriott sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $7.21, for a total value of $43,260.00. Following the sale, the chief operating officer now directly owns 535,457 shares of the company’s stock, valued at $3,860,644.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,359 shares of company stock valued at $1,704,435. Corporate insiders own 15.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, June 25th.

Recursion Pharmaceuticals Price Performance

Shares of RXRX opened at $7.35 on Thursday. Recursion Pharmaceuticals, Inc. has a 1 year low of $4.97 and a 1 year high of $16.75. The stock has a 50 day simple moving average of $8.82 and a 200-day simple moving average of $9.90.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Thursday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. Recursion Pharmaceuticals had a negative return on equity of 79.96% and a negative net margin of 765.90%. The business had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $11.10 million. During the same period in the prior year, the firm posted ($0.34) EPS. Recursion Pharmaceuticals’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.56 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.