Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 161.2% during the fourth quarter, Holdings Channel reports. The fund owned 9,203,780 shares of the company’s stock after purchasing an additional 5,680,656 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Recursion Pharmaceuticals were worth $90,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RXRX. ARK Investment Management LLC grew its stake in shares of Recursion Pharmaceuticals by 200.4% in the 4th quarter. ARK Investment Management LLC now owns 20,654,287 shares of the company’s stock worth $203,651,000 after buying an additional 13,777,689 shares during the last quarter. FMR LLC lifted its position in Recursion Pharmaceuticals by 134.4% in the 3rd quarter. FMR LLC now owns 10,689,532 shares of the company’s stock valued at $81,775,000 after acquiring an additional 6,129,935 shares in the last quarter. Norges Bank bought a new position in Recursion Pharmaceuticals in the 4th quarter valued at approximately $33,703,000. Vanguard Group Inc. lifted its position in Recursion Pharmaceuticals by 37.7% in the 3rd quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock valued at $118,627,000 after acquiring an additional 4,247,002 shares in the last quarter. Finally, State Street Corp lifted its position in Recursion Pharmaceuticals by 114.3% in the 3rd quarter. State Street Corp now owns 4,555,759 shares of the company’s stock valued at $48,473,000 after acquiring an additional 2,430,027 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Performance

NASDAQ:RXRX opened at $7.47 on Thursday. Recursion Pharmaceuticals, Inc. has a one year low of $4.54 and a one year high of $16.75. The business has a fifty day moving average price of $10.84 and a 200-day moving average price of $9.10.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.06. Recursion Pharmaceuticals had a negative return on equity of 72.88% and a negative net margin of 735.99%. The firm had revenue of $10.89 million for the quarter, compared to the consensus estimate of $12.37 million. Equities research analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.63 EPS for the current year.

Insider Transactions at Recursion Pharmaceuticals

In other news, CEO Christopher Gibson sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total value of $353,600.00. Following the transaction, the chief executive officer now directly owns 978,524 shares in the company, valued at $8,650,152.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Recursion Pharmaceuticals news, COO Tina Marriott Larson sold 8,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $10.35, for a total value of $82,800.00. Following the completion of the sale, the chief operating officer now directly owns 414,548 shares in the company, valued at approximately $4,290,571.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Gibson sold 40,000 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.84, for a total value of $353,600.00. Following the transaction, the chief executive officer now owns 978,524 shares in the company, valued at approximately $8,650,152.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 341,701 shares of company stock worth $3,568,471. 19.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

RXRX has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Recursion Pharmaceuticals in a research report on Tuesday, April 9th. TD Cowen initiated coverage on Recursion Pharmaceuticals in a research report on Friday, January 26th. They issued a “market perform” rating on the stock. Finally, KeyCorp upped their price objective on Recursion Pharmaceuticals from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Three equities 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 currently has a consensus rating of “Hold” and a consensus price target of $12.75.

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.