ARK Investment Management LLC Acquires 13,777,689 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

ARK Investment Management LLC increased its holdings in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 200.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,654,287 shares of the company’s stock after buying an additional 13,777,689 shares during the quarter. Recursion Pharmaceuticals comprises about 1.2% of ARK Investment Management LLC’s portfolio, making the stock its 24th largest holding. ARK Investment Management LLC owned about 0.10% of Recursion Pharmaceuticals worth $203,651,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Recursion Pharmaceuticals by 37.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,506,834 shares of the company’s stock worth $118,627,000 after acquiring an additional 4,247,002 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Recursion Pharmaceuticals by 9.3% during the 2nd quarter. BlackRock Inc. now owns 11,619,427 shares of the company’s stock worth $86,797,000 after acquiring an additional 987,570 shares during the last quarter. FMR LLC lifted its stake in shares of Recursion Pharmaceuticals by 134.4% during the 3rd quarter. FMR LLC now owns 10,689,532 shares of the company’s stock worth $81,775,000 after acquiring an additional 6,129,935 shares during the last quarter. Laurion Capital Management LP lifted its stake in shares of Recursion Pharmaceuticals by 5.2% during the 4th quarter. Laurion Capital Management LP now owns 4,825,735 shares of the company’s stock worth $37,206,000 after acquiring an additional 238,461 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Recursion Pharmaceuticals by 114.3% during the 3rd quarter. State Street Corp now owns 4,555,759 shares of the company’s stock worth $48,473,000 after acquiring an additional 2,430,027 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RXRX has been the subject of a number of research analyst reports. TD Cowen initiated coverage on Recursion Pharmaceuticals in a research note on Friday, January 26th. They set a “market perform” rating for the company. KeyCorp increased their price objective on shares of Recursion Pharmaceuticals from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Needham & Company LLC increased their target price on shares of Recursion Pharmaceuticals from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Recursion Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $12.75.

Recursion Pharmaceuticals Trading Down 1.5 %

Recursion Pharmaceuticals stock opened at $10.17 on Thursday. The business’s 50-day simple moving average is $11.16 and its two-hundred day simple moving average is $9.04. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $4.54 and a fifty-two week high of $16.75.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.06. Recursion Pharmaceuticals had a negative net margin of 735.99% and a negative return on equity of 72.88%. The business had revenue of $10.89 million for the quarter, compared to the consensus estimate of $12.37 million. As a group, analysts expect that Recursion Pharmaceuticals, Inc. will post -1.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Blake Borgeson sold 20,054 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $10.58, for a total transaction of $212,171.32. Following the completion of the transaction, the director now directly owns 7,324,364 shares of the company’s stock, valued at approximately $77,491,771.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Recursion Pharmaceuticals news, CEO Christopher Gibson sold 30,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $9.49, for a total value of $292,794.97. Following the sale, the chief executive officer now directly owns 791,725 shares of the company’s stock, valued at $7,513,470.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Blake Borgeson sold 20,054 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $10.58, for a total value of $212,171.32. Following the transaction, the director now directly owns 7,324,364 shares of the company’s stock, valued at $77,491,771.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,107 shares of company stock valued at $3,856,834. Company insiders own 19.96% of the company’s stock.

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.