Recursion Pharmaceuticals (NASDAQ:RXRX) Sees Strong Trading Volume - Should You Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 19,902,525 shares were traded during trading, an increase of 15% from the previous session's volume of 17,352,523 shares.The stock last traded at $7.93 and had previously closed at $7.92.

Wall Street Analysts Forecast Growth

RXRX has been the subject of several research reports. KeyCorp lowered 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 reiterated 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 Price Performance

The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -4.90 and a beta of 0.86. The stock's 50 day moving average price is $7.15 and its two-hundred day moving average price is $6.89. The company has a quick ratio of 4.35, a current ratio of 4.35 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling at Recursion Pharmaceuticals

In other news, CFO Michael Secora sold 15,000 shares of Recursion Pharmaceuticals stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $7.66, for a total transaction of $114,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,499,631 shares of the company's stock, valued at $11,487,173.46. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXRX. ARK Investment Management LLC grew its position in shares of 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. State Street Corp grew its holdings in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after purchasing an additional 4,120,685 shares during the period. FMR LLC increased its position in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock valued at $55,116,000 after buying an additional 170,810 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Recursion Pharmaceuticals by 13.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company's stock valued at $35,803,000 after buying an additional 656,003 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Recursion Pharmaceuticals by 17.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,274,003 shares of the company's stock worth $15,372,000 after acquiring an additional 333,323 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.