Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 8.6% Higher – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 8.6% during mid-day trading on Wednesday . The company traded as high as $8.37 and last traded at $8.32. 30,048,190 shares traded hands during trading, an increase of 50% from the average daily volume of 19,970,264 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

RXRX has been the topic of several analyst reports. KeyCorp decreased their price target on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th.

Recursion Pharmaceuticals Stock Performance

The company’s 50-day moving average is $7.16 and its two-hundred day moving average is $6.88. The company has a market capitalization of $3.26 billion, a P/E ratio of -5.45 and a beta of 0.86. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RXRX. Vanguard Group Inc. boosted its holdings in shares of Recursion Pharmaceuticals by 40.1% in the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company’s stock worth $229,908,000 after purchasing an additional 9,737,196 shares in the last quarter. ARK Investment Management LLC boosted its stake in Recursion Pharmaceuticals by 16.4% in the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock worth $215,949,000 after buying an additional 4,626,268 shares in the last quarter. State Street Corp raised its stake in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after acquiring an additional 4,120,685 shares in the last quarter. Norges Bank bought a new stake in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $23,429,000. Finally, Geode Capital Management LLC boosted its stake in shares of Recursion Pharmaceuticals by 13.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after purchasing an additional 656,003 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

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.