Recursion Pharmaceuticals (NASDAQ:RXRX) Trading 23.9% Higher - What's Next?

Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) rose 23.9% during mid-day trading on Monday . The stock traded as high as $10.76 and last traded at $10.53. Approximately 82,298,499 shares were traded during trading, an increase of 344% from the average daily volume of 18,530,172 shares. The stock had previously closed at $8.50.

Analysts Set New Price Targets

RXRX has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. KeyCorp cut 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 report on Wednesday, January 8th.

Recursion Pharmaceuticals Trading Down 4.8 %

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 business's 50-day moving average price is $7.52 and its two-hundred day moving average price is $7.00. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -6.76 and a beta of 0.86.

Institutional Investors Weigh In On Recursion Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RXRX. Vontobel Holding Ltd. acquired a new stake in shares of Recursion Pharmaceuticals in the third quarter valued at approximately $70,000. Allspring Global Investments Holdings LLC acquired a new position in Recursion Pharmaceuticals during the third quarter valued at approximately $25,000. Foundations Investment Advisors LLC raised its position in Recursion Pharmaceuticals by 25.0% during the third quarter. Foundations Investment Advisors LLC now owns 193,036 shares of the company's stock valued at $1,272,000 after purchasing an additional 38,642 shares in the last quarter. Private Advisor Group LLC raised its position in Recursion Pharmaceuticals by 28.6% during the third quarter. Private Advisor Group LLC now owns 15,419 shares of the company's stock valued at $102,000 after purchasing an additional 3,432 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Recursion Pharmaceuticals by 527.3% during the third quarter. International Assets Investment Management LLC now owns 84,682 shares of the company's stock valued at $558,000 after purchasing an additional 71,182 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.