Nikko Asset Management Americas Inc. Trims Stock Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Nikko Asset Management Americas Inc. lessened its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 5.6% during the 1st quarter, Holdings Channel reports. The firm owned 8,407,334 shares of the company’s stock after selling 501,317 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Recursion Pharmaceuticals were worth $44,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of RXRX. Brighton Jones LLC lifted its holdings in shares of Recursion Pharmaceuticals by 49.4% in the fourth quarter. Brighton Jones LLC now owns 20,261 shares of the company’s stock valued at $137,000 after purchasing an additional 6,699 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $163,000. Raymond James Financial Inc. purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $609,000. HighTower Advisors LLC lifted its holdings in shares of Recursion Pharmaceuticals by 408.5% in the fourth quarter. HighTower Advisors LLC now owns 122,770 shares of the company’s stock valued at $830,000 after purchasing an additional 98,626 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $157,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Performance

Shares of RXRX opened at $6.49 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.11. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -3.67 and a beta of 0.91. The company’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $5.97. Recursion Pharmaceuticals, Inc. has a 1 year low of $3.79 and a 1 year high of $12.36.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Recursion Pharmaceuticals had a negative return on equity of 74.70% and a negative net margin of 961.32%. The company had revenue of $14.75 million for the quarter, compared to analyst estimates of $18.12 million. During the same period last year, the company posted ($0.39) EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Recursion Pharmaceuticals, Inc. will post -1.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley began coverage on shares of Recursion Pharmaceuticals in a report on Thursday, July 3rd. They issued an “equal weight” rating and a $5.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Recursion Pharmaceuticals in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.00.

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.