Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Up 8.6% - Time to Buy?

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report)'s share price rose 8.6% during mid-day trading on Wednesday . The stock traded as high as $8.37 and last traded at $8.32. Approximately 30,048,190 shares traded hands during trading, an increase of 50% from the average daily volume of 19,970,264 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

RXRX has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Recursion Pharmaceuticals in a research note on Thursday, February 6th.

Recursion Pharmaceuticals Stock Up 23.9 %

The business has a 50-day moving average price of $7.27 and a 200 day moving average price of $6.90. The company has a current ratio of 4.35, a quick ratio of 4.35 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $4.11 billion, a P/E ratio of -6.88 and a beta of 0.86.

Hedge Funds Weigh In On Recursion Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RXRX. Vanguard Group Inc. raised its position in shares of Recursion Pharmaceuticals by 40.1% during the 4th quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after buying an additional 9,737,196 shares in the last quarter. ARK Investment Management LLC raised its position in Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. State Street Corp lifted its stake in shares of Recursion Pharmaceuticals by 47.1% in the 3rd 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 last quarter. Novo Holdings A S purchased a new position in shares of Recursion Pharmaceuticals in the 4th quarter worth approximately $68,375,000. Finally, FMR LLC lifted its position in Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company's stock worth $55,116,000 after buying an additional 170,810 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other 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.