Onyx Bridge Wealth Group LLC Acquires New Position in Recursion Pharmaceuticals, Inc. $RXRX

Onyx Bridge Wealth Group LLC acquired a new stake in shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 11,500 shares of the company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RXRX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Recursion Pharmaceuticals by 183.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,408,524 shares of the company’s stock worth $33,901,000 after purchasing an additional 4,149,346 shares during the period. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 7.6% in the 1st quarter. ARK Investment Management LLC now owns 34,815,502 shares of the company’s stock worth $184,174,000 after purchasing an additional 2,469,104 shares during the period. Nuveen LLC bought a new position in Recursion Pharmaceuticals in the 1st quarter worth approximately $10,118,000. Kinnevik AB publ boosted its stake in Recursion Pharmaceuticals by 12.8% in the 1st quarter. Kinnevik AB publ now owns 13,434,171 shares of the company’s stock worth $71,067,000 after purchasing an additional 1,528,503 shares during the period. Finally, Jump Financial LLC boosted its stake in Recursion Pharmaceuticals by 4,289.8% in the 1st quarter. Jump Financial LLC now owns 592,353 shares of the company’s stock worth $3,134,000 after purchasing an additional 578,859 shares during the period. 89.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Najat Khan sold 36,599 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $5.52, for a total transaction of $202,026.48. Following the sale, the insider directly owned 668,197 shares of the company’s stock, valued at $3,688,447.44. This represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.43% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on RXRX shares. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, September 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Recursion Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Morgan Stanley started coverage on Recursion Pharmaceuticals in a research note on Thursday, July 3rd. They issued an “equal weight” rating and a $5.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Recursion Pharmaceuticals has an average rating of “Hold” and an average price target of $7.25.

Recursion Pharmaceuticals Stock Down 5.9%

Shares of RXRX opened at $5.75 on Thursday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -3.23 and a beta of 0.91. Recursion Pharmaceuticals, Inc. has a 1 year low of $3.79 and a 1 year high of $12.36. The business’s 50 day simple moving average is $5.17 and its 200-day simple moving average is $5.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.58 and a quick ratio of 3.58.

Recursion Pharmaceuticals (NASDAQ:RXRX) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $19.10 million for the quarter, compared to analysts’ expectations of $15.38 million. Recursion Pharmaceuticals had a negative return on equity of 76.09% and a negative net margin of 1,004.91%.The firm’s revenue was up 33.3% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. As a group, equities analysts expect that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current fiscal 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.