Recursion Pharmaceuticals (NASDAQ:RXRX) Shares Gap Up - Here's What Happened

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.50, but opened at $9.17. Recursion Pharmaceuticals shares last traded at $9.73, with a volume of 31,013,556 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RXRX shares. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. KeyCorp dropped their price target on shares of 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 Stock Up 23.9 %

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 firm has a market capitalization of $4.11 billion, a P/E ratio of -6.88 and a beta of 0.86. The business has a 50 day moving average price of $7.27 and a 200 day moving average price of $6.90.

Institutional Investors Weigh In On Recursion Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Recursion Pharmaceuticals by 40.1% during the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock worth $229,908,000 after acquiring an additional 9,737,196 shares during the period. ARK Investment Management LLC increased its holdings 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 worth $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp raised its position in shares of Recursion Pharmaceuticals by 47.1% during the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock valued at $84,815,000 after buying an additional 4,120,685 shares during the last quarter. Novo Holdings A S acquired a new stake in Recursion Pharmaceuticals during the fourth quarter worth about $68,375,000. Finally, FMR LLC increased its stake in Recursion Pharmaceuticals by 2.1% during the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock valued at $55,116,000 after acquiring an additional 170,810 shares during the period. 89.06% of the stock is owned by institutional investors.

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.