3,465,875 Shares in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Purchased by Norges Bank

Norges Bank bought a new stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,465,875 shares of the company’s stock, valued at approximately $23,429,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Recursion Pharmaceuticals by 40.1% in the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after acquiring an additional 9,737,196 shares during the last quarter. State Street Corp grew its position in Recursion Pharmaceuticals by 47.1% in the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock worth $35,803,000 after purchasing an additional 656,003 shares during the period. Institute for Wealth Management LLC. acquired a new position in shares of Recursion Pharmaceuticals during the fourth quarter valued at about $3,928,000. Finally, Platinum Investment Management Ltd. lifted its stake in shares of Recursion Pharmaceuticals by 293.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 733,011 shares of the company’s stock valued at $4,955,000 after buying an additional 546,929 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RXRX has been the topic of several recent research reports. Cowen reissued a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. Leerink Partners decreased their target price on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Finally, KeyCorp dropped their price target on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Recursion Pharmaceuticals Stock Down 11.9 %

Shares of NASDAQ RXRX opened at $4.24 on Monday. The business has a fifty day moving average of $7.22 and a two-hundred day moving average of $6.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35. Recursion Pharmaceuticals, Inc. has a 52-week low of $4.06 and a 52-week high of $12.36. The stock has a market cap of $1.70 billion, a PE ratio of -2.77 and a beta of 1.00.

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