Principal Financial Group Inc. Lowers Stock Position in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Principal Financial Group Inc. cut its stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 41.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 397,654 shares of the company’s stock after selling 285,954 shares during the quarter. Principal Financial Group Inc.’s holdings in Recursion Pharmaceuticals were worth $3,965,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in Recursion Pharmaceuticals during the 1st quarter worth $26,000. China Universal Asset Management Co. Ltd. boosted its position in Recursion Pharmaceuticals by 81.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 43,656 shares of the company’s stock worth $435,000 after purchasing an additional 19,565 shares during the period. Cherry Creek Investment Advisors Inc. boosted its position in Recursion Pharmaceuticals by 222.4% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 57,556 shares of the company’s stock worth $574,000 after purchasing an additional 39,703 shares during the period. Wesbanco Bank Inc. purchased a new stake in Recursion Pharmaceuticals during the 1st quarter worth $650,000. Finally, Wealth Effects LLC purchased a new stake in Recursion Pharmaceuticals during the 1st quarter worth $150,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Recursion Pharmaceuticals in a research report on Tuesday, June 25th.

Recursion Pharmaceuticals Price Performance

NASDAQ:RXRX opened at $7.32 on Friday. The firm has a 50-day moving average of $8.79 and a two-hundred day moving average of $9.86. Recursion Pharmaceuticals, Inc. has a 1-year low of $4.97 and a 1-year high of $16.75.

Recursion Pharmaceuticals (NASDAQ:RXRX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.04. The company had revenue of $13.80 million during the quarter, compared to analysts’ expectations of $11.10 million. Recursion Pharmaceuticals had a negative net margin of 765.90% and a negative return on equity of 79.96%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) EPS. On average, research analysts expect that Recursion Pharmaceuticals, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Recursion Pharmaceuticals

In other Recursion Pharmaceuticals news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $7.66, for a total value of $87,684.02. Following the completion of the transaction, the director now directly owns 7,229,861 shares of the company’s stock, valued at approximately $55,380,735.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Blake Borgeson sold 11,447 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $7.66, for a total value of $87,684.02. Following the sale, the director now owns 7,229,861 shares in the company, valued at approximately $55,380,735.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Tina Marriott sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $8.78, for a total transaction of $26,340.00. Following the completion of the sale, the chief operating officer now owns 535,457 shares in the company, valued at approximately $4,701,312.46. The disclosure for this sale can be found here. Insiders sold a total of 207,359 shares of company stock valued at $1,704,435 in the last ninety days. Insiders own 15.75% of the company’s stock.

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.