The Vanguard Group, Inc. recently announced the acquisition of new stake in Recursion Pharmaceuticals Inc (NASDAQ:RXRX). The institutional investor has increased its shareholding in the Healthcare company by 38.41% to 15.27 million shares with purchase of 4.24 million shares. This fresh investment now brings its stake to 7.48% valued currently at $80.63 million. In addition, SSgA Funds Management, Inc. raised its holdings by 6.06 million to 11.76 million shares. And Fidelity Management & Research Co has lifted its position by 133.51% or 6.09 million shares – to 10.64 million shares.
With over 4.91 million Recursion Pharmaceuticals Inc (RXRX) shares trading Tuesday and a closing price of $7.10 on the day, the dollar volume was approximately $34.87 million. The shares have shown a negative half year performance of -17.73% and its price on 12/05/23 lost nearly -4.18%. Currently, there are 183.21M common shares owned by the public and among those 150.48M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $9.00. The average price target is 54.4% above its recent price level and an upside to the estimated low will see the stock gain 21.11% over that period. But an upside of 79.71% will see the stock hit the forecast high price target while median target price for the stock is $14.00.
Insiders at the company have transacted a total of 197 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 96 of these insider trades were purchases, accounting for 3,414,896 shares. Insider sales of the common stock occurred on 101 occasions, with total insider shares sold totaling 1,859,822 shares.
The top 3 mutual fund holders in Recursion Pharmaceuticals Inc are Scottish Mortgage Investment Trus, SPDR S&P Biotech ETF, and ARK Genomic Revolution ETF. Scottish Mortgage Investment Trus owns 16.03 million shares of the company’s stock, all valued at over $84.63 million. SPDR S&P Biotech ETF bought 93909.0 shares to see its total holdings expand to 9.61 million shares valued at over $50.73 million and representing 4.71% of the shares outstanding. ARK Genomic Revolution ETF bought 0.18 million shares to bring its total holdings to over 8.34 million shares at a value of $44.06 million. ARK Genomic Revolution ETF now owns shares totaling to 4.09% of the shares outstanding.
Shares of Recursion Pharmaceuticals Inc (NASDAQ: RXRX) opened at $7.35, down -$0.06 from a prior closing price of $7.41. However, the script later moved the day high at 7.40, down -4.18%. The company’s stock has a 5-day price change of 1.14% and -21.55% over the past three months. RXRX shares are trading -7.91% year to date (YTD), with the 12-month market performance down to -23.74% lower. It has a 12-month low price of $4.54 and touched a high of $16.75 over the same period. RXRX has an average intraday trading volume of 3.85 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.86%, 9.43%, and -9.71% respectively.
Institutional ownership of Recursion Pharmaceuticals Inc (NASDAQ: RXRX) shares accounts for 61.74% of the company’s 183.21M shares outstanding. Mutual fund holders own 23.09%, while other institutional holders and individual stakeholders account for 44.09% and 21.34% respectively.
It has a market capitalization of $1.53B and a beta (3y monthly) value of 0.43. The earnings-per-share (ttm) stands at -$1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.30% over the week and 9.42% over the month.
Analysts forecast that Recursion Pharmaceuticals Inc (RXRX) will achieve an EPS of -$0.44 for the current quarter, -$0.44 for the next quarter and -$1.89 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.53 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.20%, and -14.85% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Recursion Pharmaceuticals Inc (RXRX) as a “Moderate Buy” at a consensus score of 2.14. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RXRX, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on May 22, 2023, with the firm’s price target at $8.
