Pier 88 Investment Partners LLC Raises Stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Pier 88 Investment Partners LLC grew its stake in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 20.8% in the fourth quarter, Holdings Channel reports. The fund owned 161,730 shares of the company’s stock after purchasing an additional 27,820 shares during the period. Pier 88 Investment Partners LLC’s holdings in Recursion Pharmaceuticals were worth $1,093,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RXRX. Decker Retirement Planning Inc. acquired a new stake in Recursion Pharmaceuticals during the fourth quarter worth about $26,000. Private Trust Co. NA acquired a new position in Recursion Pharmaceuticals in the 4th quarter valued at about $27,000. GAMMA Investing LLC grew its stake in shares of Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after buying an additional 4,948 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Recursion Pharmaceuticals by 21.1% during the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock worth $52,000 after buying an additional 1,353 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Recursion Pharmaceuticals by 220.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,820 shares of the company’s stock valued at $66,000 after buying an additional 6,758 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. Leerink Partners cut their price objective on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Cowen restated a “hold” rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Finally, KeyCorp lowered their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.25.

Recursion Pharmaceuticals Stock Performance

Shares of Recursion Pharmaceuticals stock opened at $5.81 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -3.80 and a beta of 0.85. The business has a 50-day moving average of $7.44 and a 200 day moving average of $7.01. Recursion Pharmaceuticals, Inc. has a 12 month low of $5.59 and a 12 month high of $12.36.

Recursion Pharmaceuticals (NASDAQ:RXRX) last announced its earnings results 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 business had revenue of $4.60 million for the quarter, compared to analysts’ expectations of $19.04 million. During the same period in the previous year, the company earned ($0.42) earnings per share. Recursion Pharmaceuticals’s quarterly revenue was down 57.8% on a year-over-year basis. As a group, sell-side analysts forecast that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

About Recursion Pharmaceuticals

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.