Principal Financial Group Inc. Lowers Stock Holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Principal Financial Group Inc. lessened its position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 37.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,160 shares of the company’s stock after selling 13,279 shares during the period. Principal Financial Group Inc.’s holdings in Recursion Pharmaceuticals were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ARK Investment Management LLC lifted its position in Recursion Pharmaceuticals by 14.5% during the second quarter. ARK Investment Management LLC now owns 28,142,918 shares of the company’s stock valued at $211,072,000 after purchasing an additional 3,555,357 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Recursion Pharmaceuticals by 10.5% during the 2nd quarter. Baillie Gifford & Co. now owns 26,589,936 shares of the company’s stock worth $199,425,000 after acquiring an additional 2,522,132 shares during the last quarter. Vanguard Group Inc. grew its position in Recursion Pharmaceuticals by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,014,764 shares of the company’s stock worth $159,667,000 after acquiring an additional 349,554 shares in the last quarter. Kinnevik AB publ increased its stake in Recursion Pharmaceuticals by 14.4% in the second quarter. Kinnevik AB publ now owns 11,905,668 shares of the company’s stock valued at $89,293,000 after acquiring an additional 1,500,000 shares during the last quarter. Finally, Lingotto Investment Management LLP raised its position in Recursion Pharmaceuticals by 69.0% during the second quarter. Lingotto Investment Management LLP now owns 3,675,077 shares of the company’s stock valued at $27,563,000 after purchasing an additional 1,500,000 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 other news, Director Blake Borgeson sold 11,447 shares of Recursion Pharmaceuticals stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.27, for a total transaction of $71,772.69. Following the sale, the director now owns 7,121,322 shares of the company’s stock, valued at approximately $44,650,688.94. The trade was a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,682 shares of company stock valued at $1,133,471 over the last ninety days. 15.75% of the stock is owned by insiders.

Recursion Pharmaceuticals Price Performance

Shares of Recursion Pharmaceuticals stock opened at $6.00 on Tuesday. The stock has a market capitalization of $1.72 billion, a P/E ratio of -3.92 and a beta of 0.81. Recursion Pharmaceuticals, Inc. has a one year low of $5.60 and a one year high of $15.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The business’s 50 day simple moving average is $6.60 and its two-hundred day simple moving average is $7.47.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. During the same quarter in the prior year, the company earned ($0.43) earnings per share. The company’s quarterly revenue was up 147.6% compared to the same quarter last year. Analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Analysts Set New Price Targets

RXRX has been the topic of several recent research reports. Leerink Partners reduced their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group lowered 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.25.

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.