RXRX RECURSION PHARMACEUTICALS, INC.
Executive Summary
A cluster of five mega-passive institutions (State Street, Wells Fargo, Schwab, Invesco, Morgan Stanley) added $46.3M in RXRX during Q3 2025, while two sellers (Fidelity and Norges Bank) reduced by $28.5M. The net $17.8M inflow is dominated by passive/index rebalancing, not active conviction, and the cluster is overwhelmingly passive — the signal is weak.
Key Financial Metrics
Institutional Positions
Net institutional flow: $17.8M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | ADD | +63.4% | $89.2M | $32.6M |
| Wells Fargo | DOUBLED | +269.2% | $3.9M | $2.8M |
| Schwab | ADD | +33.1% | $16.8M | $3.7M |
| Invesco | ADD | +31% | $2.0M | $426.0K |
| Morgan Stanley | ADD | +28.1% | $35.6M | $6.8M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | TRIM | -42.2% | $28.3M | -$12.5M |
| Norges Bank | EXIT | -100% | $16.0M | -$16.0M |
Actionable Insight
The cluster is dominated by passive rebalancing, not active thesis-driven buying. The $17.8M net inflow is small relative to market cap. Monitor for any active manager 13F additions or a specific catalyst (pipeline readout, partnership) that could drive conviction buying. The historical calibration suggests high-score reports on RXRX have underperformed — avoid over-weighting this signal.
Key Facts
- 5 buyers added $46.3M in aggregate; 2 sellers reduced by $28.5M; net inflow of ~$17.8M
- All 5 buyers are mega-passive managers (State Street, Wells Fargo, Schwab, Invesco, Morgan Stanley) — likely index rebalancing, not active conviction
- Fidelity trimmed 42.2% of its position, selling $12.5M; Norges Bank fully exited a $16.0M position
- No active hedge fund or activist manager participated in the cluster
- Historical calibration shows score-6+ reports on RXRX have low observed win rates (34% at score=6) and negative average alpha at T+20 (-2.04% net)
Financial Impact
Net institutional inflow of ~$17.8M (5 buyers added $46.3M, 2 sellers reduced $28.5M) — small relative to $1.6B market cap (~1.1% of float)
Risk Factors
- Passive inflows may reverse next quarter on index reconstitution
- Norges Bank's full exit and Fidelity's large trim suggest institutional skepticism
- Historical RXRX reports show negative average alpha at T+20 (-2.04%) — cluster signal may not translate to near-term outperformance
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-RXRX-2025-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
2d ago
|
Institutional Cluster
| $3.10 awaiting T+5 | awaiting T+5 | — | — |
|
Jun 5, 2026
7d ago
|
Insider Cluster
| $3.32 awaiting T+5 | awaiting T+5 | — | — |
|
May 29, 2026
14d ago
|
Press Release
| $3.79 $3.32 | ▼ −12.53% | ▼ −9.78% | — |
|
May 6, 2026
5w ago
|
Press Release
| $3.43 $3.15 | ▼ −8.16% | ▼ −9.29% | — |
|
May 5, 2026
5w ago
|
Insider Cluster
| $3.37 $3.26 | ▼ −3.26% | ▼ −5.25% | — |
|
Apr 7, 2026
9w ago
|
Insider Cluster
| $3.19 $3.54 | ▲ +10.97% | ▲ +5.64% | — |
|
Mar 25, 2026
11w ago
|
Press Release
| $3.17 $3.06 | ▼ −3.47% | ▼ −3.23% | — |
|
Mar 17, 2026
12w ago
|
Insider Cluster
| $3.42 $3.17 | ▼ −7.31% | ▼ −4.66% | — |
|
Feb 25, 2026
15w ago
|
8-K
| $3.77 $3.64 | ▼ −3.45% | ▼ −2.35% | — |
US Market Status
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