Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 8.6% – Should You Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 8.6% during trading on Wednesday . The company traded as high as $8.37 and last traded at $8.32. Approximately 30,048,190 shares changed 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.

Analyst Upgrades and Downgrades

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

Recursion Pharmaceuticals Stock Performance

The stock’s 50-day moving average is $7.16 and its 200-day moving average is $6.88. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -5.45 and a beta of 0.86. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04.

Institutional Trading of Recursion Pharmaceuticals

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Recursion Pharmaceuticals by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,680 shares of the company’s stock valued at $12,789,000 after buying an additional 288,926 shares during the last quarter. Accel Wealth Management purchased a new stake in shares of Recursion Pharmaceuticals in the fourth quarter valued at about $310,000. FMR LLC boosted its holdings in Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the last quarter. Avanza Fonder AB bought a new stake in Recursion Pharmaceuticals in the 4th quarter worth about $580,000. Finally, State Street Corp lifted its position in shares of Recursion Pharmaceuticals by 47.1% during the 3rd quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after buying an additional 4,120,685 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Recursion Pharmaceuticals Company Profile

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.