Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 10.7% – Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares shot up 10.7% during trading on Wednesday . The stock traded as high as $12.05 and last traded at $11.78. 29,323,578 shares traded hands during trading, an increase of 21% from the average session volume of 24,262,922 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

Several brokerages recently issued reports on RXRX. KeyCorp dropped their price target 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. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th.

Recursion Pharmaceuticals Stock Performance

The company has a market capitalization of $4.29 billion, a PE ratio of -7.18 and a beta of 0.86. The stock has a 50-day simple moving average of $7.38 and a 200 day simple moving average of $6.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc increased its position in Recursion Pharmaceuticals by 0.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 410,286 shares of the company’s stock worth $2,774,000 after buying an additional 1,300 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Recursion Pharmaceuticals by 21.1% in the 4th quarter. Farther Finance Advisors LLC now owns 7,757 shares of the company’s stock worth $52,000 after buying an additional 1,353 shares during the period. Axxcess Wealth Management LLC grew its holdings in shares of Recursion Pharmaceuticals by 4.3% during the 3rd quarter. Axxcess Wealth Management LLC now owns 43,884 shares of the company’s stock worth $289,000 after purchasing an additional 1,795 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Recursion Pharmaceuticals by 7.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,030 shares of the company’s stock valued at $176,000 after acquiring an additional 1,875 shares during the period. Finally, Wedmont Private Capital lifted its stake in shares of Recursion Pharmaceuticals by 10.6% during the fourth quarter. Wedmont Private Capital now owns 20,943 shares of the company’s stock worth $144,000 after purchasing an additional 2,000 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.