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

Pier 88 Investment Partners LLC raised its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 442.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RXRX. Allspring Global Investments Holdings LLC purchased a new position in Recursion Pharmaceuticals during the third quarter valued at $25,000. Farther Finance Advisors LLC increased its holdings in Recursion Pharmaceuticals by 176.9% during the third quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after buying an additional 4,091 shares during the last quarter. GAMMA Investing LLC raised its holdings in Recursion Pharmaceuticals by 1,588.4% in the 2nd quarter. GAMMA Investing LLC now owns 6,416 shares of the company’s stock worth $48,000 after purchasing an additional 6,036 shares during the period. Amalgamated Bank raised its stake in shares of Recursion Pharmaceuticals by 52.4% in the second quarter. Amalgamated Bank now owns 7,152 shares of the company’s stock worth $54,000 after buying an additional 2,459 shares during the period. Finally, San Luis Wealth Advisors LLC purchased a new position in Recursion Pharmaceuticals during the third quarter valued at approximately $69,000. 89.06% of the stock is owned by institutional investors.

Recursion Pharmaceuticals Stock Down 3.4 %

NASDAQ RXRX opened at $7.32 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. The company’s 50-day moving average price is $6.61 and its 200-day moving average price is $7.62. Recursion Pharmaceuticals, Inc. has a 12 month low of $5.89 and a 12 month high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $26.08 million for the quarter, compared to the consensus estimate of $12.62 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. The company’s revenue for the quarter was up 147.6% on a year-over-year basis. During the same period last year, the firm earned ($0.43) earnings per share. As a group, sell-side analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Gibson sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $6.04, for a total value of $120,800.00. Following the completion of the sale, the chief executive officer now owns 762,656 shares in the company, valued at approximately $4,606,442.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher Gibson sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $6.04, for a total value of $120,800.00. Following the completion of the transaction, the chief executive officer now directly owns 762,656 shares of the company’s stock, valued at approximately $4,606,442.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $7.12, for a total value of $81,502.64. Following the sale, the director now owns 7,132,769 shares of the company’s stock, valued at $50,785,315.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,682 shares of company stock worth $1,012,618 in the last three months. Corporate insiders own 15.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RXRX shares. Leerink Partners dropped their price objective on Recursion Pharmaceuticals from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group decreased their target price on shares of Recursion Pharmaceuticals from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.