Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume – Here’s Why

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) saw an uptick in trading volume on Tuesday . 26,087,509 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 22,576,836 shares.The stock last traded at $11.00 and had previously closed at $10.53.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RXRX shares. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th. KeyCorp dropped their price objective 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.

Recursion Pharmaceuticals Price Performance

The stock has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $6.95. 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 debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Recursion Pharmaceuticals during the 3rd quarter worth about $25,000. Decker Retirement Planning Inc. acquired a new stake in Recursion Pharmaceuticals during the 4th quarter worth approximately $26,000. Private Trust Co. NA purchased a new position in shares of Recursion Pharmaceuticals during the 4th quarter worth approximately $27,000. GAMMA Investing LLC increased its stake in Recursion Pharmaceuticals by 1,979.2% in the 4th quarter. GAMMA Investing LLC now owns 5,198 shares of the company’s stock valued at $35,000 after purchasing an additional 4,948 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Recursion Pharmaceuticals by 176.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,404 shares of the company’s stock valued at $42,000 after purchasing an additional 4,091 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.