Principal Financial Group Inc. Sells 13,279 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Principal Financial Group Inc. cut its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 37.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,160 shares of the company’s stock after selling 13,279 shares during the period. Principal Financial Group Inc.’s holdings in Recursion Pharmaceuticals were worth $146,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $12,789,000 after buying an additional 288,926 shares during the last quarter. FMR LLC increased its position in Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after acquiring an additional 170,810 shares during the period. State Street Corp raised its stake in Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after purchasing an additional 656,003 shares during the period. Finally, Perceptive Advisors LLC acquired a new stake in Recursion Pharmaceuticals in the 2nd quarter worth $5,769,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Recursion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $9.25.

Insider Buying and Selling at Recursion Pharmaceuticals

In related news, Director Blake Borgeson sold 11,447 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.67, for a total transaction of $76,351.49. Following the sale, the director now owns 7,089,007 shares in the company, valued at $47,283,676.69. The trade was a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Secora sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $7.66, for a total transaction of $114,900.00. Following the sale, the chief financial officer now owns 1,499,631 shares of the company’s stock, valued at approximately $11,487,173.46. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,341 shares of company stock worth $393,490 over the last quarter. 15.75% of the stock is currently owned by insiders.

Recursion Pharmaceuticals Stock Performance

NASDAQ RXRX opened at $7.49 on Wednesday. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -4.90 and a beta of 0.85. The company has a 50 day moving average of $6.90 and a 200-day moving average of $7.02. Recursion Pharmaceuticals, Inc. has a 1-year low of $5.60 and a 1-year high of $15.74.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $26.08 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.43) EPS. On average, equities analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal year.

Recursion Pharmaceuticals 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.