Platinum Investment Management Ltd. Increases Stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Platinum Investment Management Ltd. increased its position in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 293.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 733,011 shares of the company’s stock after purchasing an additional 546,929 shares during the period. Platinum Investment Management Ltd.’s holdings in Recursion Pharmaceuticals were worth $4,955,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RXRX. Victory Capital Management Inc. increased its stake in shares of Recursion Pharmaceuticals by 25.1% during the third quarter. Victory Capital Management Inc. now owns 27,394 shares of the company’s stock valued at $181,000 after buying an additional 5,503 shares during the period. KBC Group NV boosted its position in Recursion Pharmaceuticals by 79.9% during the third quarter. KBC Group NV now owns 7,602 shares of the company’s stock valued at $50,000 after purchasing an additional 3,377 shares in the last quarter. Intech Investment Management LLC bought a new stake in Recursion Pharmaceuticals during the third quarter valued at about $349,000. Charles Schwab Investment Management Inc. boosted its position in Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after purchasing an additional 288,926 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in Recursion Pharmaceuticals during the third quarter valued at about $71,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Recursion Pharmaceuticals Price Performance

Shares of NASDAQ RXRX opened at $6.39 on Wednesday. The business’s 50 day moving average price is $7.50 and its 200 day moving average price is $7.01. The firm has a market cap of $2.57 billion, a P/E ratio of -4.18 and a beta of 0.85. Recursion Pharmaceuticals, Inc. has a 52 week low of $5.60 and a 52 week high of $12.36. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

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