Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Up 23.9% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) traded up 23.9% during mid-day trading on Monday . The stock traded as high as $10.76 and last traded at $10.53. 82,298,499 shares were traded during mid-day trading, an increase of 344% from the average session volume of 18,530,172 shares. The stock had previously closed at $8.50.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. KeyCorp reduced their price objective on Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

Recursion Pharmaceuticals Trading Up 23.9 %

The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -6.88 and a beta of 0.86. The business’s 50 day simple moving average is $7.27 and its 200 day simple moving average is $6.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Institutional Trading of Recursion Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in RXRX. Exchange Traded Concepts LLC raised its stake in shares of Recursion Pharmaceuticals by 24.9% during the third quarter. Exchange Traded Concepts LLC now owns 25,182 shares of the company’s stock worth $166,000 after purchasing an additional 5,021 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Recursion Pharmaceuticals during the 3rd quarter worth $70,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Recursion Pharmaceuticals in the 3rd quarter worth $25,000. Foundations Investment Advisors LLC boosted its holdings in shares of Recursion Pharmaceuticals by 25.0% in the third quarter. Foundations Investment Advisors LLC now owns 193,036 shares of the company’s stock valued at $1,272,000 after acquiring an additional 38,642 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Recursion Pharmaceuticals by 28.6% during the third quarter. Private Advisor Group LLC now owns 15,419 shares of the company’s stock worth $102,000 after acquiring an additional 3,432 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.