Norges Bank Buys Shares of 3,465,875 Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Norges Bank bought a new position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,465,875 shares of the company’s stock, valued at approximately $23,429,000. Norges Bank owned 0.89% of Recursion Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RXRX. Decker Retirement Planning Inc. purchased a new stake in Recursion Pharmaceuticals in the 4th quarter worth about $26,000. Private Trust Co. NA purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter worth approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of Recursion Pharmaceuticals by 1,979.2% during the fourth quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock worth $35,000 after purchasing an additional 4,948 shares during the period. Farther Finance Advisors LLC grew its position in Recursion Pharmaceuticals by 21.1% during the fourth quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock valued at $52,000 after purchasing an additional 1,353 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Recursion Pharmaceuticals by 220.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,820 shares of the company’s stock valued at $66,000 after buying an additional 6,758 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Trading Down 11.9 %

Recursion Pharmaceuticals stock opened at $4.24 on Monday. Recursion Pharmaceuticals, Inc. has a one year low of $4.06 and a one year high of $12.36. The company’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $6.95. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -2.77 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company had revenue of $4.60 million for the quarter, compared to analyst estimates of $19.04 million. During the same period in the prior year, the company posted ($0.42) EPS. The business’s revenue was down 57.8% on a year-over-year basis. On average, analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RXRX shares. Leerink Partners lowered their price target on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a research note on Friday, February 28th. KeyCorp cut their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.25.

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.