Recursion Pharmaceuticals (NASDAQ:RXRX) Trading Up 5% – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares were up 5% on Tuesday . The company traded as high as $12.36 and last traded at $11.06. Approximately 42,958,879 shares traded hands during 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

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

Recursion Pharmaceuticals Stock Performance

The business’s fifty day moving average price is $7.52 and its 200-day moving average price is $7.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The stock has a market capitalization of $4.04 billion, a PE ratio of -6.76 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Softbank Group CORP. purchased a new stake in Recursion Pharmaceuticals in the fourth quarter valued at approximately $99,152,000. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals in the fourth quarter worth about $68,375,000. Vanguard Group Inc. lifted its stake 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 valued at $229,908,000 after acquiring an additional 9,737,196 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Recursion Pharmaceuticals by 16.4% during the 3rd quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company’s stock valued at $215,949,000 after acquiring an additional 4,626,268 shares during the period. Finally, State Street Corp grew its holdings in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during 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.