Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 5% – Still a Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) rose 5% during mid-day trading on Tuesday . The company traded as high as $12.36 and last traded at $11.06. Approximately 42,958,879 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 23,231,602 shares. The stock had previously closed at $10.53.

Wall Street Analysts Forecast Growth

RXRX has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. KeyCorp lowered 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.

Recursion Pharmaceuticals Trading Up 1.0 %

The company has a market cap of $4.16 billion, a price-to-earnings ratio of -6.95 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. The firm’s 50-day moving average price is $7.38 and its 200 day moving average price is $6.95.

Institutional Trading of Recursion Pharmaceuticals

Several hedge funds have recently bought and sold shares of RXRX. Exchange Traded Concepts LLC grew its position in Recursion Pharmaceuticals by 24.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 25,182 shares of the company’s stock valued at $166,000 after purchasing an additional 5,021 shares during the period. Vontobel Holding Ltd. bought a new position in Recursion Pharmaceuticals during the 3rd quarter valued at $70,000. Allspring Global Investments Holdings LLC bought a new position in Recursion Pharmaceuticals during the 3rd quarter valued at $25,000. Foundations Investment Advisors LLC lifted its stake in Recursion Pharmaceuticals by 25.0% during the 3rd 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 lifted its stake in Recursion Pharmaceuticals by 28.6% during the 3rd quarter. Private Advisor Group LLC now owns 15,419 shares of the company’s stock valued at $102,000 after acquiring an additional 3,432 shares in the last quarter. Institutional investors and hedge funds 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.