Sumitomo Mitsui Trust Boosts Stake in Recursion Pharmaceuticals and Spectris

Sumitomo Mitsui Trust Holdings Inc. has recently increased its holdings in Recursion Pharmaceuticals (RXRX) by 10.4%, now owning about 0.26% of the company that is valued at $3,348,000. This increase in ownership shows a trend among other hedge funds, as Swiss National Bank, Bank of New York Mellon Corp, and Vanguard Group Inc. have all expanded their stakes in Recursion.

Meanwhile, insider activity is also impacting the company’s share distribution. Shafique Virani, an insider at Recursion Pharmaceuticals, recently sold 25,000 shares while Director Terry-Ann Burrell sold 8,275 shares. These transactions come as Recursion boasts a market cap of $2.98 billion and a 50-day moving average price of $8.91.

In addition to increasing its stake in Recursion Pharmaceuticals, Sumitomo Mitsui has also upped its shareholdings in Spectris plc (SXS), a UK-based precision instruments and controls company, by 24%, now owning 222,000 shares. These shares are valued at approximately $10.9 million. This significant increase in shareholdings makes Sumitomo Mitsui one of the substantial institutional owners of Spectris.

The shares of Spectris were purchased at an average cost of £29 ($39.30) per share, indicating a considerable investment by Sumitomo Mitsui. This move further cements the trust’s position in the market and its commitment to these companies. Overall, these developments reflect the evolving landscape of significant institutional ownership in both Recursion Pharmaceuticals and Spectris plc.

About Recursion Pharmaceuticals

Recursion (NASDAQ: RXRX) is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological and chemical datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, and chemistry to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montréal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on Twitter and LinkedIn.

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Sumitomo Mitsui Trust Boosts Stake in Recursion Pharmaceuticals and Spectris

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