Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX – Get Rating) – Research analysts at SVB Leerink lowered their Q2 2023 earnings per share estimates for shares of Recursion Pharmaceuticals in a note issued to investors on Monday, May 8th. SVB Leerink analyst M. Foroohar now expects that the company will earn ($0.38) per share for the quarter, down from their previous estimate of ($0.33). SVB Leerink currently has a “Market Perform” rating and a $8.00 price objective on the stock. The consensus estimate for Recursion Pharmaceuticals’ current full-year earnings is ($1.33) per share. SVB Leerink also issued estimates for Recursion Pharmaceuticals’ Q3 2023 earnings at ($0.34) EPS, Q3 2023 earnings at ($0.34) EPS, Q4 2023 earnings at ($0.17) EPS, FY2023 earnings at ($1.22) EPS and FY2024 earnings at ($1.30) EPS.
Separately, Needham & Company LLC began coverage on Recursion Pharmaceuticals in a research note on Thursday, March 16th. They set a “buy” rating and a $17.00 price target on the stock.
Recursion Pharmaceuticals Stock Performance
Recursion Pharmaceuticals (NASDAQ:RXRX – Get Rating) last released its quarterly earnings results on Monday, May 8th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. Recursion Pharmaceuticals had a negative return on equity of 56.92% and a negative net margin of 533.45%. The firm had revenue of $12.13 million during the quarter, compared to analyst estimates of $15.93 million.
Insider Activity at Recursion Pharmaceuticals
In related news, COO Tina Marriott Larson sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $7.82, for a total value of $62,560.00. Following the completion of the sale, the chief operating officer now owns 427,844 shares of the company’s stock, valued at $3,345,740.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Mubadala Investment Co Pjsc purchased 6,300 shares of the stock in a transaction dated Tuesday, February 14th. The stock was acquired at an average cost of $7.95 per share, for a total transaction of $50,085.00. Following the completion of the transaction, the insider now directly owns 12,404,518 shares in the company, valued at approximately $98,615,918.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Tina Marriott Larson sold 8,000 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $7.82, for a total value of $62,560.00. Following the transaction, the chief operating officer now owns 427,844 shares of the company’s stock, valued at $3,345,740.08. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 247,764 shares of company stock valued at $1,925,814 and sold 195,701 shares valued at $1,406,663. Insiders own 22.25% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of RXRX. Accel Wealth Management acquired a new stake in Recursion Pharmaceuticals in the first quarter valued at $41,000. CWM LLC raised its stake in Recursion Pharmaceuticals by 1,888.7% in the first quarter. CWM LLC now owns 6,145 shares of the company’s stock valued at $41,000 after buying an additional 5,836 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Recursion Pharmaceuticals by 1,029.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,903 shares of the company’s stock worth $53,000 after purchasing an additional 6,292 shares in the last quarter. Amundi lifted its holdings in shares of Recursion Pharmaceuticals by 69.6% in the 4th quarter. Amundi now owns 7,189 shares of the company’s stock valued at $57,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Recursion Pharmaceuticals by 23.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,319 shares of the company’s stock valued at $77,000 after purchasing an additional 1,378 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.
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 IIa clinical trial to treat cerebral cavernous malformation; REC-2282 for the treatment of neurofibromatosis type 2; REC-4881 to treat familial adenomatous polyposis; and REC-3599, which is in Phase I clinical trial to treat GM2 gangliosidosis.
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